Wayfair (NYSE:W) Price Target Raised to $88.00 at Mizuho

Wayfair (NYSE:W) had its price target raised by Mizuho from $50.00 to $88.00 in a research note released on Tuesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts have also weighed in on W. BMO Capital Markets upped their price objective on Wayfair from $38.00 to $68.00 and gave the company a “market perform” rating in a report on Tuesday. Wells Fargo & Company upped their price target on shares of Wayfair from $65.00 to $84.00 and gave the company an “overweight” rating in a report on Tuesday. The Goldman Sachs Group reduced their price objective on shares of Wayfair from $50.00 to $31.00 and set a “neutral” rating for the company in a research report on Tuesday, April 22nd. UBS Group boosted their target price on shares of Wayfair from $80.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Sanford C. Bernstein increased their target price on shares of Wayfair from $50.00 to $70.00 and gave the company a “market perform” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.77.

Wayfair Stock Up 0.3%

Wayfair stock opened at $73.67 on Tuesday. Wayfair has a 52-week low of $20.41 and a 52-week high of $76.29. The firm has a market capitalization of $9.45 billion, a price-to-earnings ratio of -30.70 and a beta of 2.92. The firm has a 50-day moving average price of $53.98 and a two-hundred day moving average price of $42.67.

Wayfair (NYSE:W) last announced its earnings results on Monday, August 4th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.54. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm earned $0.47 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. Research analysts expect that Wayfair will post -2.54 earnings per share for the current year.

Insider Activity at Wayfair

In related news, CEO Niraj Shah sold 179,707 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $52.58, for a total transaction of $9,448,994.06. Following the completion of the transaction, the chief executive officer directly owned 236,850 shares in the company, valued at $12,453,573. This represents a 43.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Conine sold 180,943 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $52.59, for a total transaction of $9,515,792.37. Following the completion of the sale, the insider owned 236,167 shares in the company, valued at $12,420,022.53. This represents a 43.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 800,204 shares of company stock worth $40,135,236. Company insiders own 21.91% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. LPL Financial LLC lifted its stake in Wayfair by 218.2% during the fourth quarter. LPL Financial LLC now owns 38,486 shares of the company’s stock worth $1,706,000 after purchasing an additional 26,390 shares during the period. Pictet Asset Management Holding SA boosted its stake in Wayfair by 5.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 12,531 shares of the company’s stock valued at $555,000 after buying an additional 690 shares in the last quarter. National Bank of Canada FI boosted its stake in Wayfair by 17.1% in the 4th quarter. National Bank of Canada FI now owns 40,228 shares of the company’s stock valued at $1,783,000 after buying an additional 5,883 shares in the last quarter. Geode Capital Management LLC grew its position in Wayfair by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 1,546,932 shares of the company’s stock valued at $68,584,000 after acquiring an additional 22,078 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in Wayfair by 148.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 16,971 shares of the company’s stock worth $752,000 after acquiring an additional 10,152 shares in the last quarter. 89.67% of the stock is owned by institutional investors.

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.