Wayfair (NYSE:W) Price Target Cut to $60.00 by Analysts at Mizuho

Wayfair (NYSE:W) had its target price trimmed by Mizuho from $65.00 to $60.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other research firms have also recently weighed in on W. Argus cut shares of Wayfair from a “buy” rating to a “hold” rating in a research report on Monday, August 26th. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus dropped their price objective on shares of Wayfair from $56.00 to $55.00 and set a “hold” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price objective on Wayfair from $80.00 to $63.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America downgraded Wayfair from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $85.00 to $58.00 in a research report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average price target of $60.28.

Wayfair Stock Up 2.5 %

Shares of W traded up $1.06 on Monday, hitting $42.99. The company’s stock had a trading volume of 178,786 shares, compared to its average volume of 4,340,918. Wayfair has a fifty-two week low of $38.02 and a fifty-two week high of $76.18. The company has a 50 day moving average price of $48.64 and a 200 day moving average price of $52.26.

Wayfair (NYSE:W) last posted its quarterly earnings data on Friday, November 1st. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.09. The business had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the firm posted ($1.38) EPS. Wayfair’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Wayfair will post -2.68 EPS for the current fiscal year.

Insider Buying and Selling at Wayfair

In related news, insider Jon Blotner sold 4,600 shares of the 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 completion of the transaction, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, COO Thomas Netzer sold 1,011 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, 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 stock was sold at an average price of $53.60, for a total transaction of $246,560.00. Following the transaction, the insider now owns 52,078 shares in the company, valued at approximately $2,791,380.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,471 shares of company stock worth $1,987,002. Corporate insiders own 23.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Wayfair during the 3rd quarter worth approximately $29,000. ORG Partners LLC acquired a new position in shares of Wayfair in the first quarter valued at $37,000. International Assets Investment Management LLC acquired a new stake in shares of Wayfair during the 2nd quarter worth about $58,000. Comerica Bank lifted its stake in shares of Wayfair by 210.9% during the 1st quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after buying an additional 829 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Wayfair by 39.1% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after buying an additional 471 shares during the period. Institutional investors 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.