Wayfair (W) Receives a Rating Update from a Top Analyst

Wells Fargo analyst Zachary Fadem maintained a Hold rating on Wayfair (W) today and set a price target of $320.00. The company’s shares closed last Thursday at $283.34.

According to TipRanks.com, Fadem is a top 100 analyst with an average return of 33.0% and a 79.3% success rate. Fadem covers the Consumer Goods sector, focusing on stocks such as Petco Health and Wellness Company, National Vision Holdings, and Floor & Decor Holdings.

Wayfair has an analyst consensus of Moderate Buy, with a price target consensus of $343.28, implying a 19.2% upside from current levels. In a report issued on May 3, Morgan Stanley also reiterated a Hold rating on the stock with a $270.00 price target.

See today’s analyst top recommended stocks >>

Based on Wayfair’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.67 billion and net profit of $23.82 million. In comparison, last year the company earned revenue of $2.53 billion and had a GAAP net loss of $330 million.

Based on the recent corporate insider activity of 133 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of W in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Wayfair Inc. is an e-commerce company which engages in selling furniture and home decor goods worldwide. The company sells its products through wayfair.com and four other branded websites, namely – AllModern, Joss & Main, Birch Lane and Perigold.