Mizuho Lowers Wayfair (NYSE:W) Price Target to $60.00

Wayfair (NYSE:W) had its target price trimmed by Mizuho from $65.00 to $60.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also commented on W. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research report on Monday, August 5th. Guggenheim restated a “buy” rating and set a $70.00 price objective on shares of Wayfair in a research note on Thursday, September 26th. Wedbush lowered their target price on Wayfair from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Monday, October 28th. Royal Bank of Canada dropped their target price on Wayfair from $65.00 to $53.00 and set a “sector perform” rating on the stock in a report on Friday, August 2nd. Finally, Barclays decreased their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating for the company in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Price Performance

W opened at $40.43 on Monday. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of -9.00 and a beta of 3.46. The business’s 50-day moving average price is $48.61 and its two-hundred day moving average price is $52.11. Wayfair has a 1 year low of $37.60 and a 1 year high of $76.18.

Wayfair (NYSE:W) last announced its earnings results on Friday, November 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.09. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the business posted ($1.38) EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Wayfair will post -2.68 earnings per share for the current fiscal year.

Insider Transactions at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the transaction, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at $7,502,054.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total value of $388,856.50. Following the completion of the sale, the chief financial officer now directly owns 117,947 shares in the company, valued at approximately $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Thomas Netzer sold 1,011 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,868 shares of company stock worth $2,003,248 over the last quarter. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in W. Mirae Asset Global Investments Co. Ltd. grew its stake in Wayfair by 250.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 167,170 shares of the company’s stock worth $11,347,000 after buying an additional 119,415 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Wayfair by 118.1% during the 1st quarter. Daiwa Securities Group Inc. now owns 16,822 shares of the company’s stock worth $1,141,000 after acquiring an additional 9,108 shares during the period. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after acquiring an additional 471 shares in the last quarter. Signaturefd LLC increased its stake in Wayfair by 1.3% in the first quarter. Signaturefd LLC now owns 206,489 shares of the company’s stock valued at $14,016,000 after acquiring an additional 2,714 shares during the last quarter. Finally, ORG Partners LLC bought a new position in Wayfair in the first quarter valued at approximately $37,000. 89.67% of the stock is owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.