Wayfair’s (W) “Outperform” Rating Reiterated at Mizuho

Mizuho reiterated their outperform rating on shares of Wayfair (NYSE:W) in a research note published on Friday,Benzinga reports. Mizuho currently has a $130.00 price objective on the stock.

Several other brokerages also recently commented on W. Jefferies Financial Group downgraded Wayfair from a “buy” rating to a “hold” rating and set a $94.00 target price for the company. in a research note on Wednesday, December 3rd. Piper Sandler reaffirmed an “overweight” rating on shares of Wayfair in a report on Friday, November 21st. Evercore ISI increased their price objective on shares of Wayfair from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Stifel Nicolaus set a $100.00 target price on shares of Wayfair in a research report on Wednesday, October 29th. Finally, Cowen reaffirmed a “hold” rating on shares of Wayfair in a research note on Wednesday, October 29th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $105.29.

Wayfair Price Performance

NYSE W opened at $106.43 on Friday. The business has a fifty day moving average price of $101.93 and a two-hundred day moving average price of $83.07. Wayfair has a fifty-two week low of $20.41 and a fifty-two week high of $114.92. The stock has a market capitalization of $13.87 billion, a PE ratio of -41.58 and a beta of 3.31.

Wayfair (NYSE:W) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.26. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the business posted $0.22 EPS. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. As a group, sell-side analysts expect that Wayfair will post -2.54 earnings per share for the current year.

Insider Buying and Selling at Wayfair

In other Wayfair news, insider Steven Conine sold 150,000 shares of Wayfair stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $105.92, for a total transaction of $15,888,000.00. Following the transaction, the insider directly owned 729,073 shares of the company’s stock, valued at approximately $77,223,412.16. The trade was a 17.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Niraj Shah sold 150,000 shares of the company’s stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $105.91, for a total value of $15,886,500.00. Following the completion of the sale, the chief executive officer owned 729,137 shares in the company, valued at $77,222,899.67. This trade represents a 17.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,085,959 shares of company stock valued at $103,711,474 in the last ninety days. Insiders own 21.91% of the company’s stock.

Institutional Trading of Wayfair

A number of large investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in shares of Wayfair by 111.7% in the 1st quarter. AQR Capital Management LLC now owns 524,072 shares of the company’s stock valued at $16,786,000 after purchasing an additional 276,471 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in Wayfair in the first quarter worth approximately $452,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Wayfair by 29.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 67,023 shares of the company’s stock worth $2,147,000 after purchasing an additional 15,084 shares in the last quarter. Scientech Research LLC lifted its stake in Wayfair by 33.1% in the first quarter. Scientech Research LLC now owns 36,187 shares of the company’s stock valued at $1,159,000 after buying an additional 9,003 shares during the period. Finally, Fred Alger Management LLC boosted its holdings in shares of Wayfair by 40.1% during the 1st quarter. Fred Alger Management LLC now owns 88,264 shares of the company’s stock worth $2,827,000 after buying an additional 25,260 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

Wayfair Company Profile

Wayfair Inc (NYSE: W) is an e-commerce company focused on home furnishings and décor. Through its platform, Wayfair offers a broad assortment of furniture, lighting, home textiles, kitchenware and decorative accessories. The company’s portfolio includes flagship sites such as Wayfair.com, as well as specialty retail brands like Joss & Main, AllModern, Birch Lane and Perigold, each catering to distinct design styles and price points.

Founded in 2002 by Niraj Shah and Steve Conine under the name CSN Stores, the business rebranded as Wayfair in 2011 and went public in 2014.