Wayfair (W) Sets New 52-Week High on Earnings Beat

Wayfair Inc (NYSE:W) hit a new 52-week high during trading on Friday following a stronger than expected earnings report. The stock traded as high as $156.78 and last traded at $151.72, with a volume of 303272 shares traded. The stock had previously closed at $117.28.

The company reported ($1.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.30) by $0.18. The company had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the business posted ($0.58) earnings per share. The firm’s revenue was up 40.0% on a year-over-year basis.

A number of research analysts recently weighed in on W shares. Cowen raised their price objective on Wayfair from $120.00 to $130.00 and gave the company a “positive” rating in a research note on Friday, December 7th. Piper Jaffray Companies set a $87.00 target price on Wayfair and gave the company a “buy” rating in a report on Thursday, December 20th. Robert W. Baird lowered their target price on Wayfair from $118.00 to $108.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. JPMorgan Chase & Co. lowered their target price on Wayfair from $115.00 to $110.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Finally, Citigroup began coverage on Wayfair in a report on Friday, December 7th. They issued a “neutral” rating and a $117.00 target price on the stock. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $124.85.

In other news, insider Edmond Macri sold 500 shares of Wayfair stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $101.94, for a total transaction of $50,970.00. Following the sale, the insider now owns 500 shares of the company’s stock, valued at approximately $50,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steve Oblak sold 230 shares of Wayfair stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $110.66, for a total value of $25,451.80. Following the sale, the insider now directly owns 116,036 shares in the company, valued at approximately $12,840,543.76. The disclosure for this sale can be found here. Insiders have sold a total of 140,893 shares of company stock worth $15,008,501 in the last three months. 37.75% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. FMR LLC grew its holdings in shares of Wayfair by 2.0% during the 3rd quarter. FMR LLC now owns 8,949,120 shares of the company’s stock worth $1,321,516,000 after purchasing an additional 176,243 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Wayfair by 7.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,761,964 shares of the company’s stock worth $703,199,000 after purchasing an additional 332,832 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Wayfair by 7.5% during the 3rd quarter. Vanguard Group Inc now owns 4,761,964 shares of the company’s stock worth $703,199,000 after purchasing an additional 332,832 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Wayfair by 32.6% during the 4th quarter. Baillie Gifford & Co. now owns 3,773,309 shares of the company’s stock worth $339,899,000 after purchasing an additional 927,813 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Wayfair by 26.4% during the 3rd quarter. Renaissance Technologies LLC now owns 1,536,137 shares of the company’s stock worth $226,841,000 after purchasing an additional 320,542 shares in the last quarter. 74.10% of the stock is currently owned by institutional investors.

The firm has a market capitalization of $10.66 billion, a price-to-earnings ratio of -53.55 and a beta of 1.89.

WARNING: This article was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.dispatchtribunal.com/2019/02/23/wayfair-w-sets-new-52-week-high-on-earnings-beat.html.

Wayfair Company Profile (NYSE:W)

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.

Featured Story: Calculating net profit and net profit margin ratio

Receive News & Ratings for Wayfair Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wayfair and related companies with MarketBeat.com's FREE daily email newsletter.