Wayfair (NYSE:W) Price Target Lowered to $90.00 at Mizuho

Wayfair (NYSE:W) had its price objective reduced by Mizuho from $110.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

A number of other research analysts also recently commented on W. Wedbush lowered their price objective on shares of Wayfair from $100.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, February 20th. TD Cowen lowered their price objective on shares of Wayfair from $88.00 to $75.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Canaccord Genuity Group lowered their price objective on shares of Wayfair from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company lowered their price objective on shares of Wayfair from $125.00 to $100.00 and set an “overweight” rating on the stock in a research report on Friday, May 1st. Finally, Morgan Stanley set a $110.00 price objective on shares of Wayfair in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $96.33.

Wayfair Price Performance

Wayfair stock opened at $66.25 on Friday. The firm’s 50 day simple moving average is $74.76 and its 200-day simple moving average is $91.26. The company has a market cap of $8.66 billion, a P/E ratio of -28.31, a price-to-earnings-growth ratio of 4.38 and a beta of 3.02. Wayfair has a fifty-two week low of $32.67 and a fifty-two week high of $119.98.

Wayfair (NYSE:W) last released its earnings results on Thursday, April 30th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. The business had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, analysts expect that Wayfair will post 0.5 EPS for the current fiscal year.

Insider Transactions at Wayfair

In other news, insider Jon Blotner sold 4,790 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $72.19, for a total value of $345,790.10. Following the completion of the sale, the insider directly owned 111,158 shares in the company, valued at approximately $8,024,496.02. The trade was a 4.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 6,137 shares of the business’s stock in a transaction on Friday, April 24th. The stock was sold at an average price of $78.62, for a total transaction of $482,490.94. Following the completion of the sale, the chief executive officer owned 429,137 shares of the company’s stock, valued at $33,738,750.94. The trade was a 1.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 703,785 shares of company stock worth $54,004,173. 18.44% of the stock is owned by insiders.

Institutional Trading of Wayfair

A number of institutional investors and hedge funds have recently modified their holdings of W. Arrowstreet Capital Limited Partnership grew its holdings in shares of Wayfair by 826.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 2,817,056 shares of the company’s stock worth $251,648,000 after purchasing an additional 2,512,854 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Wayfair in the third quarter worth $108,125,000. Norges Bank acquired a new stake in Wayfair during the fourth quarter worth $117,973,000. AQR Capital Management LLC boosted its stake in Wayfair by 197.3% during the second quarter. AQR Capital Management LLC now owns 1,557,937 shares of the company’s stock worth $79,673,000 after buying an additional 1,033,865 shares in the last quarter. Finally, Holocene Advisors LP increased its holdings in Wayfair by 351.9% in the 2nd quarter. Holocene Advisors LP now owns 1,294,057 shares of the company’s stock valued at $66,178,000 after buying an additional 1,007,676 shares during the period. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.