Mizuho Has Lowered Expectations for Wayfair (NYSE:W) Stock Price

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

Other equities analysts have also issued research reports about the company. Truist Financial dropped their price target on Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Citigroup cut their price target on Wayfair from $85.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Stifel Nicolaus lowered their price objective on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their target price on shares of Wayfair from $67.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $70.00 target price on shares of Wayfair in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $60.28.

Wayfair Stock Down 1.6 %

Shares of NYSE W opened at $39.78 on Monday. The business has a 50-day moving average price of $48.57 and a 200 day moving average price of $52.03. The stock has a market cap of $4.91 billion, a PE ratio of -8.86 and a beta of 3.46. Wayfair has a 52-week low of $37.60 and a 52-week high of $76.18.

Wayfair (NYSE:W) last issued its quarterly earnings data on Friday, November 1st. The company reported $0.22 earnings per share 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 analysts’ expectations of $2.87 billion. Wayfair’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.38) EPS. Sell-side analysts anticipate that Wayfair will post -2.68 earnings per share for the current year.

Insider Buying and Selling

In other Wayfair news, CFO Kate Gulliver sold 7,330 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $53.05, for a total transaction of $388,856.50. Following the completion of the transaction, the chief financial officer now owns 117,947 shares of the company’s stock, valued at approximately $6,257,088.35. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Fiona Tan sold 10,040 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $53.06, for a total value of $532,722.40. Following the transaction, the chief technology officer now directly owns 84,655 shares in the company, valued at $4,491,794.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kate Gulliver sold 7,330 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 117,947 shares in the company, valued at $6,257,088.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,868 shares of company stock worth $2,003,248 in the last ninety days. Insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital World Investors increased its holdings in Wayfair by 0.9% in the first quarter. Capital World Investors now owns 12,145,579 shares of the company’s stock valued at $824,442,000 after buying an additional 103,369 shares during the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 363,948 shares during the period. Renaissance Technologies LLC lifted its holdings in Wayfair by 28.0% in the second quarter. Renaissance Technologies LLC now owns 3,086,569 shares of the company’s stock worth $162,755,000 after acquiring an additional 675,271 shares during the last quarter. Wolf Hill Capital Management LP lifted 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 acquiring an additional 432,404 shares during the last quarter. Finally, Maverick Capital Ltd. boosted 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 acquiring an additional 227,908 shares during the period. 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.