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

Wayfair (NYSE:W) had its price objective cut by Mizuho from $65.00 to $60.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 48.88% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Gordon Haskett cut Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Raymond James dropped their price target on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus decreased their price target on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. StockNews.com raised shares of Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Needham & Company LLC reiterated 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 assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.16.

Wayfair Stock Up 0.4 %

W opened at $40.30 on Monday. The business’s fifty day simple moving average is $48.69 and its 200 day simple moving average is $52.35. Wayfair has a 52 week low of $38.02 and a 52 week high of $76.18. The firm has a market cap of $4.98 billion, a P/E ratio of -7.62 and a beta of 3.46.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.18 billion. Wayfair’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted ($1.27) EPS. As a group, equities analysts expect that Wayfair will post -2.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.60, for a total transaction of $246,560.00. Following the completion of the transaction, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CTO Fiona Tan sold 10,040 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $53.06, for a total transaction of $532,722.40. Following the sale, the chief technology officer now owns 84,655 shares in the company, valued at $4,491,794.30. 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 can be accessed through the SEC website. Also, insider Jon Blotner sold 4,600 shares of the business’s stock in a transaction 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 in the company, valued at approximately $2,791,380.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,471 shares of company stock worth $1,987,002 over the last ninety days. Company insiders own 26.81% of the company’s stock.

Hedge Funds Weigh In On Wayfair

A number of hedge funds have recently added to or reduced their stakes in W. Capital Performance Advisors LLP acquired a new stake in Wayfair in the third quarter valued at approximately $29,000. BloombergSen Inc. raised its holdings in shares of Wayfair by 54.4% during the 3rd quarter. BloombergSen Inc. now owns 25,617 shares of the company’s stock valued at $1,439,000 after purchasing an additional 9,025 shares in the last quarter. Optas LLC acquired a new stake in shares of Wayfair in the 3rd quarter valued at $270,000. Nisa Investment Advisors LLC boosted its holdings in Wayfair by 801.5% in the third quarter. Nisa Investment Advisors LLC now owns 42,460 shares of the company’s stock worth $2,385,000 after purchasing an additional 37,750 shares in the last quarter. Finally, Semanteon Capital Management LP acquired a new position in Wayfair during the third quarter worth $277,000. 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.