Wayfair (NYSE:W) Given New $110.00 Price Target at Mizuho

Wayfair (NYSE:W) had its target price increased by investment analysts at Mizuho from $90.00 to $110.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would indicate a potential upside of 11.35% from the stock’s previous close.

W has been the topic of several other reports. Evercore reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Wayfair in a research note on Wednesday, August 5th. BMO Capital Markets lifted their price target on shares of Wayfair from $105.00 to $115.00 and gave the company a “market perform” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reissued a “neutral” rating on shares of Wayfair in a research note on Wednesday, August 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Wayfair in a research report on Monday, September 14th. Finally, TD Cowen raised their price objective on Wayfair from $75.00 to $110.00 and gave the company a “hold” rating in a research report on Wednesday, August 5th. Three equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $120.61.

Wayfair Stock Performance

Wayfair stock opened at $98.79 on Tuesday. Wayfair has a 1 year low of $55.60 and a 1 year high of $119.98. The firm has a 50 day moving average price of $99.36 and a 200 day moving average price of $84.77. The company has a market cap of $13.04 billion, a price-to-earnings ratio of -40.16, a PEG ratio of 3.53 and a beta of 2.99.

Wayfair (NYSE:W) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 2.49% and a negative return on equity of 3.40%. Wayfair’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. Sell-side analysts predict that Wayfair will post 0.93 EPS for the current year.

Insider Activity

In other Wayfair news, Director Steven Conine sold 69,000 shares of Wayfair stock in a transaction on Monday, September 14th. The shares were sold at an average price of $103.36, for a total value of $7,131,840.00. Following the completion of the transaction, the director owned 291,073 shares of the company’s stock, valued at $30,085,305.28. The trade was a 19.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Niraj Shah sold 69,000 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $103.35, for a total transaction of $7,131,150.00. Following the sale, the chief executive officer directly owned 291,137 shares in the company, valued at $30,089,008.95. This trade represents a 19.16% 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. In the last ninety days, insiders sold 288,893 shares of company stock worth $29,795,521. 18.44% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wayfair

Institutional investors and hedge funds have recently bought and sold shares of the business. Flynn Zito Capital Management LLC lifted its position in shares of Wayfair by 6.4% in the first quarter. Flynn Zito Capital Management LLC now owns 2,775 shares of the company’s stock worth $209,000 after buying an additional 168 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Wayfair by 0.7% during the second quarter. Arizona State Retirement System now owns 28,514 shares of the company’s stock worth $2,635,000 after buying an additional 201 shares during the last quarter. Triumph Capital Management boosted its position in shares of Wayfair by 6.3% in the second quarter. Triumph Capital Management now owns 3,498 shares of the company’s stock valued at $323,000 after acquiring an additional 207 shares during the period. Parallel Advisors LLC grew its stake in shares of Wayfair by 18.6% in the first quarter. Parallel Advisors LLC now owns 1,661 shares of the company’s stock worth $125,000 after acquiring an additional 261 shares during the last quarter. Finally, Rothschild Investment LLC grew its stake in shares of Wayfair by 27.9% in the fourth quarter. Rothschild Investment LLC now owns 1,401 shares of the company’s stock worth $141,000 after acquiring an additional 306 shares during the last quarter. Institutional investors and hedge funds own 89.67% of the company’s stock.

About Wayfair

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.