Wayfair Inc. (W)’s Trend Up, Especially After Forming a Bullish Double Top Pattern

October 2, 2018 - By Linda Rogers

Wayfair Inc. (NYSE:W) Logo

Investors sentiment decreased to 1.1 in 2018 Q2. Its down 0.08, from 1.18 in 2018Q1. It turned negative, as 36 investors sold Wayfair Inc. shares while 61 reduced holdings. 43 funds opened positions while 64 raised stakes. 63.82 million shares or 2.11% less from 65.20 million shares in 2018Q1 were reported.
92,700 were reported by Clough Cap Prtn Lp. National Bank Of America De, North Carolina-based fund reported 281,802 shares. 280,770 were reported by Goodnow Investment Gp Ltd Liability. M&T State Bank owns 3,649 shares or 0% of their US portfolio. Thompson Davis owns 155 shares. Telemark Asset Mgmt Lc invested in 300,000 shares. Us Bancorporation De holds 0% or 563 shares in its portfolio. Los Angeles And Equity Research owns 26,635 shares. Ingalls Snyder Ltd Com reported 107,245 shares. Rhumbline Advisers, Massachusetts-based fund reported 58,628 shares. Nomura owns 32,299 shares. 536,066 are owned by Grantham Mayo Van Otterloo Communications Ltd Liability. The New York-based Atika Capital Limited Company has invested 0.89% in Wayfair Inc. (NYSE:W). Quantitative Mngmt Ltd Liability holds 5,500 shares or 0.01% of its portfolio. 28 are owned by Earnest Partners Llc.

Since April 3, 2018, it had 0 insider purchases, and 95 sales for $79.82 million activity. 600 Wayfair Inc. (NYSE:W) shares with value of $73,620 were sold by Macri Edmond. On Friday, July 6 Oblak Steve sold $422,413 worth of Wayfair Inc. (NYSE:W) or 3,570 shares. Shares for $442,346 were sold by Shah Niraj on Monday, June 25. Another trade for 126 shares valued at $8,416 was made by Rodrigues Romero on Monday, April 16. 99,570 shares valued at $14.95M were sold by Savarese James on Friday, September 14. $163,880 worth of Wayfair Inc. (NYSE:W) shares were sold by Mulliken John Champlin.

The chart of Wayfair Inc. (W) shows a double top with $149.33 target or 9.00 % above today’s $137.00 share price. The 8 months chart pattern indicates low risk for the $12.29 billion company. It was reported on Oct, 2 by Finviz.com. If the $149.33 price target is reached, the company will be worth $1.11 billion more. Double tops are rare but powerful chart patterns.

The stock decreased 4.62% or $6.64 during the last trading session, reaching $137. About 892,328 shares traded. Wayfair Inc. (NYSE:W) has risen 81.48% since October 2, 2017 and is uptrending. It has outperformed by 65.86% the S&P500.

Analysts await Wayfair Inc. (NYSE:W) to report earnings on November, 1. They expect $-1.50 earnings per share, down 70.45 % or $0.62 from last year’s $-0.88 per share. After $-1.13 actual earnings per share reported by Wayfair Inc. for the previous quarter, Wall Street now forecasts 32.74 % negative EPS growth.

Wayfair Inc. (NYSE:W) Ratings Coverage

Among 11 analysts covering Wayfair Inc (NYSE:W), 5 have Buy rating, 0 Sell and 6 Hold. Therefore 45% are positive. Wayfair Inc had 18 analyst reports since April 3, 2018 according to SRatingsIntel. Buckingham Research maintained the stock with “Buy” rating in Friday, August 3 report. Oppenheimer maintained the stock with “Buy” rating in Friday, June 8 report. The rating was upgraded by Bank of America on Wednesday, May 2 to “Buy”. On Tuesday, June 19 the stock rating was maintained by Robert W. Baird with “Neutral”. The company was downgraded on Monday, April 30 by Wedbush. The stock of Wayfair Inc. (NYSE:W) earned “Market Perform” rating by Wells Fargo on Wednesday, September 12. The rating was maintained by Canaccord Genuity with “Buy” on Monday, June 25. The company was maintained on Friday, September 28 by Canaccord Genuity. The firm earned “Buy” rating on Wednesday, June 20 by Buckingham Research. Canaccord Genuity maintained the shares of W in report on Friday, August 3 with “Buy” rating.

More notable recent Wayfair Inc. (NYSE:W) news were published by: Seekingalpha.com which released: “The Amazon Threat Is Increasing For Wayfair” on September 20, 2018, also Benzinga.com with their article: “Supreme Court Ruling On Internet Sales Tax Clears The Air, But Muddies The Water” published on September 10, 2018, Seekingalpha.com published: “Buy the Amazon-related dip in Wayfair – Piper” on September 24, 2018. More interesting news about Wayfair Inc. (NYSE:W) were released by: Seekingalpha.com and their article: “Canaccord expects Wayfair rally to extend” published on September 28, 2018 as well as Bizjournals.com‘s news article titled: “Wayfair stock drops after Amazon unveils furniture-focused site” with publication date: September 19, 2018.

Wayfair Inc. engages in the e-commerce business in the United States and Europe. The company has market cap of $12.29 billion. It operates through two divisions, U.S. and International. It currently has negative earnings. The firm offers approximately eight million products for the home sector under various brands.

Wayfair Inc. (NYSE:W) Institutional Positions Chart

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