Wayfair (NYSE:W) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Wayfair (NYSE:WGet Rating) released its quarterly earnings data on Thursday. The company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.89) by ($0.05), Briefing.com reports. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.19 billion. Wayfair’s revenue was down 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.23 earnings per share.

Wayfair Trading Down 1.0 %

W traded down $0.60 during trading on Friday, reaching $62.31. 3,806,403 shares of the company were exchanged, compared to its average volume of 3,160,407. The stock has a market cap of $6.56 billion, a P/E ratio of -13.63 and a beta of 2.91. The firm has a 50 day moving average of $52.87 and a 200 day moving average of $90.24. Wayfair has a 52 week low of $43.31 and a 52 week high of $317.45.

Insider Transactions at Wayfair

In other news, COO Thomas Netzer sold 2,170 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $56.45, for a total value of $122,496.50. Following the completion of the transaction, the chief operating officer now owns 51,125 shares of the company’s stock, valued at $2,886,006.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CTO Fiona Tan sold 4,767 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $43.97, for a total transaction of $209,604.99. Following the completion of the transaction, the chief technology officer now owns 23,352 shares of the company’s stock, valued at $1,026,787.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Thomas Netzer sold 2,170 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $56.45, for a total value of $122,496.50. Following the transaction, the chief operating officer now directly owns 51,125 shares of the company’s stock, valued at approximately $2,886,006.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,251 shares of company stock valued at $994,669. 27.04% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Wayfair

Several hedge funds have recently modified their holdings of W. Stockbridge Partners LLC lifted its holdings in shares of Wayfair by 49.6% during the first quarter. Stockbridge Partners LLC now owns 1,171,862 shares of the company’s stock valued at $129,819,000 after purchasing an additional 388,622 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Wayfair in the 1st quarter worth about $37,565,000. Ruane Cunniff & Goldfarb L.P. lifted its stake in Wayfair by 9.1% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock worth $381,085,000 after acquiring an additional 285,729 shares in the last quarter. Wishbone Management LP lifted its stake in Wayfair by 36.5% in the 1st quarter. Wishbone Management LP now owns 730,461 shares of the company’s stock worth $80,920,000 after acquiring an additional 195,461 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Wayfair by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 6,540,088 shares of the company’s stock worth $724,512,000 after acquiring an additional 132,647 shares in the last quarter. 85.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Cowen dropped their target price on shares of Wayfair from $140.00 to $84.00 in a report on Monday. Truist Financial dropped their price objective on shares of Wayfair from $130.00 to $120.00 and set a “buy” rating for the company in a report on Monday. Wedbush upped their price objective on shares of Wayfair from $50.00 to $60.00 and gave the company a “neutral” rating in a report on Friday. Canaccord Genuity Group lowered their target price on shares of Wayfair from $145.00 to $120.00 in a research note on Friday, May 6th. Finally, UBS Group lowered their target price on shares of Wayfair from $75.00 to $50.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Ten investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Wayfair currently has an average rating of “Hold” and an average target price of $96.58.

Wayfair Company Profile

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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Earnings History for Wayfair (NYSE:W)

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