Mizuho Issues Pessimistic Forecast for Wayfair (NYSE:W) Stock Price

Wayfair (NYSE:W) had its target price decreased by equities research analysts at Mizuho from $65.00 to $60.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 35.23% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Wayfair in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price objective on Wayfair from $87.00 to $70.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Robert W. Baird decreased their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday. Finally, StockNews.com upgraded Wayfair from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Up 5.8 %

Shares of W opened at $44.37 on Monday. Wayfair has a 12-month low of $38.02 and a 12-month high of $76.18. The firm has a market capitalization of $5.48 billion, a PE ratio of -9.88 and a beta of 3.46. The stock’s fifty day simple moving average is $48.65 and its 200-day simple moving average is $52.20.

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

Insider Buying and Selling

In related news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 of the company’s stock, valued at $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Fiona Tan sold 10,040 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 of the company’s stock, valued at $4,491,794.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 4,600 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.60, for a total value of $246,560.00. Following the completion of the sale, the insider now directly owns 52,078 shares in the company, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,868 shares of company stock valued at $2,003,248 over the last 90 days. 23.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

A number of large investors have recently modified their holdings of the business. Entropy Technologies LP boosted its holdings in shares of Wayfair by 33.4% in the 3rd quarter. Entropy Technologies LP now owns 31,460 shares of the company’s stock valued at $1,767,000 after purchasing an additional 7,884 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its stake in shares of Wayfair by 24.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 44,595 shares of the company’s stock valued at $2,505,000 after acquiring an additional 8,675 shares during the last quarter. River Global Investors LLP lifted its stake in shares of Wayfair by 3.9% in the 3rd quarter. River Global Investors LLP now owns 27,296 shares of the company’s stock valued at $1,534,000 after acquiring an additional 1,017 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Wayfair in the 3rd quarter valued at $29,000. Finally, BloombergSen Inc. lifted its stake in shares of Wayfair by 54.4% in the 3rd quarter. BloombergSen Inc. now owns 25,617 shares of the company’s stock valued at $1,439,000 after acquiring an additional 9,025 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

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.