Wayfair (W) Issues Quarterly Earnings Results

Wayfair (NYSE:W) released its earnings results on Thursday. The company reported ($1.28) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.19), MarketWatch Earnings reports. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.67 billion. During the same period last year, the firm posted ($0.65) EPS. Wayfair’s revenue was up 42.4% compared to the same quarter last year.

Wayfair stock opened at $92.96 on Friday. Wayfair has a one year low of $55.33 and a one year high of $151.20.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Wayfair from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup lowered their target price on shares of Wayfair from $140.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday. Canaccord Genuity lowered their target price on shares of Wayfair from $165.00 to $150.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird lowered their target price on shares of Wayfair from $118.00 to $108.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Wolfe Research lowered their target price on shares of Wayfair from $143.00 to $135.00 and set an “outperform” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $126.06.

In other news, insider Steven Conine sold 10,925 shares of the company’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $107.66, for a total transaction of $1,176,185.50. Following the completion of the transaction, the insider now owns 64,415 shares in the company, valued at $6,934,918.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Edmond Macri sold 600 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $122.32, for a total transaction of $73,392.00. Following the transaction, the insider now owns 58,208 shares of the company’s stock, valued at approximately $7,120,002.56. The disclosure for this sale can be found here. Insiders have sold 458,115 shares of company stock valued at $61,161,008 in the last 90 days. Insiders own 37.75% of the company’s stock.

A number of hedge funds have recently bought and sold shares of W. Cornerstone Wealth Management LLC acquired a new stake in Wayfair in the third quarter worth about $150,000. Engineers Gate Manager LP acquired a new stake in Wayfair in the second quarter worth about $208,000. World Asset Management Inc acquired a new stake in Wayfair in the second quarter worth about $214,000. Peregrine Asset Advisers Inc. acquired a new stake in Wayfair in the second quarter worth about $214,000. Finally, Baldwin Brothers Inc. MA acquired a new stake in Wayfair in the third quarter worth about $241,000. 72.46% of the stock is owned by institutional investors and hedge funds.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. The company offers approximately 10 million products for the home sector under various brands. It offers a selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, such as Wayfair, Joss & Main, AllModern, DwellStudio, Perigold, and Birch Lane.

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Earnings History for Wayfair (NYSE:W)

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