Oppenheimer gives an Outperform recommendation for Wayfair Inc. (W)


Wayfair Inc.’s filing revealed that its Chief Executive Officer Shah Niraj unloaded Company’s shares for reported $0.7 million on Sep 07. In the deal valued at $70.37 per share,10,000 shares were sold. As a result of this transaction, Shah Niraj now holds 309,137 shares worth roughly $ 19.65 million.

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Then, Conine Steven sold 10,000 shares, generating $703,567 in total proceeds. Upon selling the shares at $70.36, the Co-Founder now owns 309,073 shares.

Before that, Schaferkordt Anke sold 11 shares. Wayfair Inc. shares valued at $793 were divested by the Director at a price of $72.13 per share. As a result of the transaction, Schaferkordt Anke now holds 9,275 shares, worth roughly $0.59 million.

Oppenheimer reiterated its Wayfair Inc. [W] rating to an Outperform in a research note published on Monday, August 18, 2023; the price target was $100. PT values the company’s stock at a premium of 36.43 to its Monday closing price.

Price Performance Review of W

On Monday, Wayfair Inc. [NYSE:W] saw its stock fall -10.46% to $63.57. On the same session, the stock had its day’s lowest price of $62.90, but rose to a high of $70.11. Over the last five days, the stock has lost -14.09%. Wayfair Inc. shares have risen nearly 93.28% since the year began. Nevertheless, the stocks have risen 31.51% over the past one year. While a 52-week high of $90.71 was reached on 08/03/23, a 52-week low of $28.11 was recorded on 05/02/23. SMA at 50 days reached $71.72, while 200 days put it at $49.98. A total of 5.52 million shares were traded, compared to the trading of 2.81 million shares in the previous session.

Levels Of Support And Resistance For W Stock

The 24-hour chart illustrates a support level at 60.94, which if violated will result in even more drops to 58.32. On the upside, there is a resistance level at 68.15. A further resistance level may holdings at 72.74. The Relative Strength Index (RSI) on the 14-day chart is 37.83, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.05, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.46%. Stochastics %K at 46.11% indicates the stock is a holding.

How much short interest is there in Wayfair Inc.?

A steep rise in short interest was recorded in Wayfair Inc. stocks on Aug 30, 2023, dropping by -0.93 million shares to a total of 22.46 million shares. Yahoo Finance data shows the prior-month short interest on Jul 30, 2023 was 23.39 million shares. There was a decline of -4.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 40.00% of the overall stock float, the days-to-cover ratio (short ratio) fell to 4.87.

Wayfair Inc. [W] – Who Are The Largest Shareholders?

In filings from Fidelity Management & Research Co, it is revealed that the company now owns 12,889,968 shares, or roughly 14.28% of the outstanding W shares. In other words, the investor’s shares have risen by 297,012 from its previous 13-F filing of 12592956.0. Additionally, Capital Research & Management Co increased 0.02% of its stake after which the total value it holdings stand at $738,384,302, while Baillie Gifford & Co. reduced -8.55% of its stake to hold $542.61 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 945,464 shares of Wayfair Inc., while Prescott General Partners LLC bought 0 shares. At present, Spruce House Investment Managemen is holding 3,650,000 shares valued at $252.25 million. Voya Investment Management Co. LL owned 3,145,848 shares of the company at the time of its most recent 13F filing, worth $217.41 million.

According to FactSet, Wayfair Inc.’s share price will average $90.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 36.62 percent from its previous closing price of $71.00. Analysts expect Wayfair Inc. stock to reach the higher price of $114.00, while the lowest price estimate is $55.00. However, 35 analysts have rated W stock as an Overweight in their predictions for 2023.


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