Wayfair (NYSE:W – Get 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
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
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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