Wayfair (NYSE:W) Issues Quarterly Earnings Results

Wayfair (NYSE:W) released its quarterly earnings results on Thursday. The company reported ($1.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.97) by $0.62, Briefing.com reports. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.26 billion. The business’s revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.77) EPS.

NYSE:W traded down $2.26 during trading hours on Friday, reaching $127.34. 2,740,265 shares of the company traded hands, compared to its average volume of 1,807,708. The firm’s 50-day simple moving average is $146.10. The stock has a market capitalization of $12.14 billion, a PE ratio of -22.70 and a beta of 1.89. Wayfair has a 1-year low of $76.60 and a 1-year high of $173.72.

In other Wayfair news, insider Edmond Macri sold 500 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $150.00, for a total transaction of $75,000.00. Following the transaction, the insider now owns 950 shares of the company’s stock, valued at approximately $142,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Michael D. Fleisher sold 477 shares of the stock in a transaction on Saturday, June 15th. The stock was sold at an average price of $156.06, for a total value of $74,440.62. Following the transaction, the chief financial officer now directly owns 128,675 shares in the company, valued at approximately $20,081,020.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,432 shares of company stock worth $5,079,959. 33.86% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of W. FIL Ltd purchased a new position in shares of Wayfair during the 1st quarter worth $272,369,000. William Blair Investment Management LLC lifted its stake in shares of Wayfair by 494.4% during the 1st quarter. William Blair Investment Management LLC now owns 750,968 shares of the company’s stock worth $111,481,000 after purchasing an additional 624,622 shares during the period. Norges Bank purchased a new position in shares of Wayfair in the 4th quarter worth $29,209,000. FMR LLC raised its position in shares of Wayfair by 2.0% in the 1st quarter. FMR LLC now owns 9,454,927 shares of the company’s stock worth $1,403,584,000 after buying an additional 184,311 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Wayfair by 15.3% in the 4th quarter. Geode Capital Management LLC now owns 592,170 shares of the company’s stock worth $53,308,000 after buying an additional 78,626 shares during the period. 80.24% of the stock is currently owned by institutional investors.

W has been the topic of a number of research reports. Deutsche Bank lowered their price target on Wayfair from $175.00 to $160.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus upped their price target on Wayfair from $132.00 to $150.00 and gave the stock a “hold” rating in a report on Thursday, May 2nd. Wedbush restated a “neutral” rating and issued a $130.00 price target (down previously from $140.00) on shares of Wayfair in a report on Friday. Piper Jaffray Companies set a $175.00 price target on Wayfair and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Needham & Company LLC initiated coverage on Wayfair in a report on Monday, July 1st. They issued a “buy” rating and a $175.00 price target on the stock. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $154.49.

About Wayfair

Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.

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Earnings History for Wayfair (NYSE:W)

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