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

Wayfair (NYSE:W) had its price objective reduced by Mizuho from $65.00 to $60.00 in a research note released on Monday, Benzinga reports. Mizuho currently has an outperform rating on the stock.

Several other equities research analysts have also recently issued reports on W. StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Stifel Nicolaus reduced their target price on Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. dropped their price target on Wayfair from $80.00 to $63.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $60.00 target price on shares of Wayfair in a report on Friday. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Performance

NYSE W traded up $1.06 on Monday, reaching $42.99. The stock had a trading volume of 178,786 shares, compared to its average volume of 4,340,918. Wayfair has a 1-year low of $38.02 and a 1-year high of $76.18. The firm has a fifty day moving average of $48.64 and a two-hundred day moving average of $52.26.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.38) EPS. On average, equities analysts forecast that Wayfair will post -2.68 EPS for the current year.

Insider Activity at Wayfair

In other news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $53.05, for a total transaction of $388,856.50. Following the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Kate Gulliver sold 7,330 shares of Wayfair stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total value of $388,856.50. Following the transaction, the chief financial officer now directly owns 117,947 shares of the company’s stock, valued at $6,257,088.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jon Blotner sold 4,600 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the sale, the insider now directly owns 52,078 shares of the company’s stock, valued at $2,791,380.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,471 shares of company stock worth $1,987,002 in the last quarter. 23.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors grew its holdings in Wayfair by 0.9% during the 1st quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock worth $824,442,000 after acquiring an additional 103,369 shares during the period. Vanguard Group Inc. grew its stake in Wayfair by 4.5% during the first quarter. Vanguard Group Inc. now owns 8,467,900 shares of the company’s stock worth $574,801,000 after purchasing an additional 363,948 shares during the period. Renaissance Technologies LLC grew its stake in Wayfair by 28.0% during the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after purchasing an additional 675,271 shares during the period. Wolf Hill Capital Management LP increased its holdings in Wayfair by 22.9% in the second quarter. Wolf Hill Capital Management LP now owns 2,322,906 shares of the company’s stock worth $122,487,000 after purchasing an additional 432,404 shares in the last quarter. Finally, Maverick Capital Ltd. lifted its stake in Wayfair by 46.2% in the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company’s stock valued at $38,051,000 after buying an additional 227,908 shares during the period. Institutional investors and hedge funds own 89.67% of the company’s stock.

About Wayfair

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.