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

Wayfair (NYSE:W) had its target price lowered by equities researchers at Mizuho from $60.00 to $50.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 48.10% from the company’s current price.

A number of other research firms have also issued reports on W. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of Wayfair in a research note on Thursday. UBS Group lowered their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Truist Financial reduced their price objective on shares of Wayfair from $53.00 to $36.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Deutsche Bank Aktiengesellschaft cut shares of Wayfair from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research note on Monday, April 14th. Finally, Citigroup upped their price target on shares of Wayfair from $28.00 to $30.00 and gave the stock a “neutral” rating in a report on Friday, April 25th. Fourteen investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.79.

Wayfair Stock Performance

Shares of W opened at $33.76 on Friday. The firm has a market cap of $4.28 billion, a P/E ratio of -8.40 and a beta of 3.72. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $76.18. The business has a 50-day moving average of $31.32 and a 200 day moving average of $40.75.

Wayfair (NYSE:W) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.24. The business had revenue of $2.73 billion for the quarter, compared to analysts’ expectations of $2.71 billion. During the same quarter in the previous year, the company posted ($0.32) earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. As a group, research analysts predict that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Fiona Tan sold 23,835 shares of Wayfair stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total value of $760,813.20. Following the sale, the chief technology officer now owns 111,128 shares in the company, valued at $3,547,205.76. The trade was a 17.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Jon Blotner sold 19,257 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $31.68, for a total transaction of $610,061.76. Following the completion of the transaction, the insider now owns 78,308 shares of the company’s stock, valued at $2,480,797.44. This trade represents a 19.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,863 shares of company stock valued at $3,393,929 in the last quarter. Insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. J.Safra Asset Management Corp lifted its position in Wayfair by 71.3% during the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company’s stock valued at $26,000 after acquiring an additional 244 shares during the period. GAMMA Investing LLC boosted its position in shares of Wayfair by 65.5% in the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company’s stock worth $31,000 after purchasing an additional 281 shares in the last quarter. True Wealth Design LLC grew its stake in shares of Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company’s stock worth $25,000 after buying an additional 381 shares during the last quarter. California State Teachers Retirement System raised its stake in Wayfair by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 87,089 shares of the company’s stock valued at $3,860,000 after buying an additional 383 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company’s stock worth $26,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors 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.