Mizuho Lowers Wayfair (NYSE:W) Price Target to $90.00

Wayfair (NYSE:W) had its price target decreased by analysts at Mizuho from $110.00 to $90.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price points to a potential upside of 35.87% from the company’s previous close.

W has been the subject of a number of other research reports. Truist Financial lowered their target price on shares of Wayfair from $120.00 to $105.00 and set a “buy” rating for the company in a report on Friday, February 20th. UBS Group cut their price target on Wayfair from $130.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada decreased their price objective on Wayfair from $92.00 to $76.00 and set a “sector perform” rating for the company in a research note on Thursday, April 30th. Jefferies Financial Group dropped their price objective on Wayfair from $86.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, April 30th. Finally, JPMorgan Chase & Co. cut their target price on Wayfair from $114.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

Wayfair Trading Up 0.4%

Wayfair stock opened at $66.24 on Friday. The company has a market cap of $8.66 billion, a PE ratio of -28.31, a PEG ratio of 6.44 and a beta of 3.02. Wayfair has a 1 year low of $30.85 and a 1 year high of $119.98. The company’s 50-day moving average is $74.76 and its two-hundred day moving average is $91.26.

Wayfair (NYSE:W) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.26 EPS for the quarter, hitting the consensus estimate of $0.26. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Wayfair had a negative net margin of 2.41% and a negative return on equity of 2.20%. During the same quarter in the previous year, the company earned $0.10 EPS. Wayfair’s revenue was up 7.4% on a year-over-year basis. Research analysts forecast that Wayfair will post 0.34 EPS for the current year.

Insider Buying and Selling

In other news, Director Steven Conine sold 112,861 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $77.50, for a total value of $8,746,727.50. Following the completion of the transaction, the director owned 436,212 shares in the company, valued at $33,806,430. This represents a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 113,863 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $77.49, for a total transaction of $8,823,243.87. Following the sale, the chief executive officer directly owned 435,274 shares of the company’s stock, valued at $33,729,382.26. This represents a 20.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 703,785 shares of company stock worth $54,004,173. Insiders own 18.44% of the company’s stock.

Institutional Trading of Wayfair

Several hedge funds and other institutional investors have recently modified their holdings of W. Cornerstone Planning Group LLC boosted its position in shares of Wayfair by 28,200.0% during the third quarter. Cornerstone Planning Group LLC now owns 283 shares of the company’s stock worth $25,000 after buying an additional 282 shares during the period. Global Retirement Partners LLC lifted its stake in Wayfair by 156.3% in the 3rd quarter. Global Retirement Partners LLC now owns 328 shares of the company’s stock valued at $29,000 after acquiring an additional 200 shares in the last quarter. Webster Bank N. A. bought a new stake in Wayfair in the 4th quarter valued at approximately $30,000. V Square Quantitative Management LLC acquired a new position in Wayfair during the 4th quarter worth approximately $33,000. Finally, Piper Sandler & CO. bought a new position in shares of Wayfair during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.