Wayfair (NYSE:W) Given New $88.00 Price Target at Mizuho

Key Points

• Mizuho Securities raised its price target for Wayfair from $50.00 to $88.00, indicating a potential upside of 21.32% from the stock's current price, while maintaining an "outperform" rating.
• Wayfair reported an earnings per share (EPS) of $0.87 for the last quarter, significantly surpassing analysts' expectations of $0.33, and experienced a 5.0% year-over-year revenue increase.
• Insider trading activity included CEO Niraj Shah selling 60,000 shares, while total insider sales for the last quarter amounted to approximately $40.1 million.

Wayfair (NYSE:W - Free Report) had its target price lifted by Mizuho from $50.00 to $88.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also recently issued reports on the stock. Loop Capital reiterated a "sell" rating and issued a $35.00 target price on shares of Wayfair in a research note on Wednesday, May 14th. The Goldman Sachs Group lowered their price target on Wayfair from $50.00 to $31.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Canaccord Genuity Group raised their price objective on Wayfair from $58.00 to $70.00 and gave the company a "buy" rating in a report on Monday, July 28th. TD Cowen upgraded Wayfair from a "hold" rating to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Raymond James Financial lifted their target price on shares of Wayfair from $55.00 to $90.00 and gave the company a "strong-buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of "Moderate Buy" and an average price target of $65.96.

Wayfair Stock Down 5.2%

Shares of NYSE:W traded down $3.97 during midday trading on Tuesday, reaching $72.72. The company's stock had a trading volume of 2,473,239 shares, compared to its average volume of 5,158,957. The firm has a market capitalization of $9.33 billion, a PE ratio of -30.30 and a beta of 2.92. The stock has a fifty day moving average of $54.66 and a 200 day moving average of $42.91. Wayfair has a twelve month low of $20.41 and a twelve month high of $78.06.

Wayfair (NYSE:W - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.54. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.11 billion. The business's quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm earned $0.47 EPS. Sell-side analysts anticipate that Wayfair will post -2.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Wayfair news, insider Jon Blotner sold 13,857 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $56.45, for a total transaction of $782,227.65. Following the sale, the insider owned 91,263 shares of the company's stock, valued at approximately $5,151,796.35. This trade represents a 13.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 60,000 shares of the company's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $56.03, for a total transaction of $3,361,800.00. Following the completion of the transaction, the chief executive officer owned 169,137 shares of the company's stock, valued at approximately $9,476,746.11. The trade was a 26.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold 800,204 shares of company stock valued at $40,135,236 in the last ninety days. Insiders own 21.91% of the company's stock.

Hedge Funds Weigh In On Wayfair

Several hedge funds have recently made changes to their positions in the company. True Wealth Design LLC increased its stake in Wayfair by 207.1% in the 4th quarter. True Wealth Design LLC now owns 565 shares of the company's stock valued at $25,000 after purchasing an additional 381 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Wayfair during the 4th quarter worth approximately $41,000. GAMMA Investing LLC raised its position in shares of Wayfair by 85.8% during the 1st quarter. GAMMA Investing LLC now owns 1,319 shares of the company's stock worth $42,000 after purchasing an additional 609 shares during the last quarter. Parallel Advisors LLC lifted its stake in Wayfair by 229.0% in the 2nd quarter. Parallel Advisors LLC now owns 1,576 shares of the company's stock valued at $81,000 after buying an additional 1,097 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in Wayfair by 49.3% during the 2nd quarter. IFP Advisors Inc now owns 1,869 shares of the company's stock valued at $96,000 after buying an additional 617 shares during 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.