Wayfair (NYSE:W) Price Target Raised to $110.00

Wayfair (NYSE:W) had its price target boosted by investment analysts at Mizuho from $90.00 to $110.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective indicates a potential upside of 11.35% from the stock’s current price.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $120.00 target price on shares of Wayfair in a report on Wednesday, August 5th. Truist Financial boosted their target price on Wayfair from $99.00 to $135.00 and gave the stock a “buy” rating in a report on Tuesday, August 4th. Citigroup lifted their price objective on Wayfair from $95.00 to $133.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Wayfair in a research note on Monday, September 14th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Wayfair in a report on Wednesday, August 5th. Three analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $120.61.

Wayfair Stock Up 0.7%

NYSE W opened at $98.79 on Tuesday. The stock has a market cap of $13.04 billion, a P/E ratio of -40.16, a PEG ratio of 3.53 and a beta of 2.99. Wayfair has a twelve month low of $55.60 and a twelve month high of $119.98. The company’s 50-day simple moving average is $99.36 and its 200 day simple moving average is $84.77.

Wayfair (NYSE:W) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.47 billion. Wayfair had a negative return on equity of 3.40% and a negative net margin of 2.49%.The company’s revenue was up 7.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.87 EPS. Research analysts anticipate that Wayfair will post 0.93 earnings per share for the current year.

Insider Transactions at Wayfair

In related news, CEO Niraj Shah sold 69,000 shares of the business’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $103.35, for a total transaction of $7,131,150.00. Following the completion of the sale, the chief executive officer directly owned 291,137 shares of the company’s stock, valued at $30,089,008.95. The trade was a 19.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jon Blotner sold 6,968 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $100.22, for a total transaction of $698,332.96. Following the completion of the transaction, the insider directly owned 110,376 shares in the company, valued at approximately $11,061,882.72. The trade was a 5.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 288,893 shares of company stock worth $29,795,521 in the last quarter. 18.44% of the stock is owned by company insiders.

Institutional Investors Weigh In On Wayfair

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its position in shares of Wayfair by 42.2% during the second quarter. Assenagon Asset Management S.A. now owns 818,591 shares of the company’s stock worth $75,654,000 after purchasing an additional 242,791 shares in the last quarter. Dockside LLC acquired a new stake in Wayfair during the 4th quarter worth $1,990,000. WINTON GROUP Ltd acquired a new stake in Wayfair during the 2nd quarter worth $3,207,000. Atreides Management LP lifted its holdings in Wayfair by 64.3% during the first quarter. Atreides Management LP now owns 1,430,997 shares of the company’s stock worth $107,625,000 after acquiring an additional 560,133 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Wayfair in the second quarter valued at about $2,001,000. Institutional investors own 89.67% of the company’s stock.

Wayfair Company Profile

Wayfair Inc is an e-commerce company focused on furniture, home furnishings and décor. Its online platform offers a broad assortment of products for rooms throughout the home, including furniture, mattresses, rugs, lighting, kitchen and dining items, outdoor furnishings, home improvement products and décor.

The company operates through the Wayfair brand and specialized retail brands such as Joss & Main, AllModern, Birch Lane and Perigold. It also serves business customers through Wayfair Professional, which provides products and services for commercial, hospitality and design-related projects.