Wayfair (NYSE:W) Announces Quarterly Earnings Results

Wayfair (NYSE:W) issued its earnings results on Thursday. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01), Zacks reports. The business had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.07 billion.

Wayfair Trading Down 9.0 %

Shares of W opened at $41.92 on Friday. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The business’s fifty day moving average is $46.42 and its 200 day moving average is $46.50.

Wall Street Analyst Weigh In

Several brokerages have commented on W. Loop Capital lowered their target price on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a research note on Friday. BMO Capital Markets upped their price objective on Wayfair from $50.00 to $55.00 and gave the company a “market perform” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their price objective on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Truist Financial lowered their price objective on Wayfair from $55.00 to $53.00 and set a “buy” rating for the company in a research note on Friday. Finally, Mizuho lowered their price objective on Wayfair from $65.00 to $60.00 and set an “outperform” rating for the company in a research note on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.80.

Insider Buying and Selling at Wayfair

In other Wayfair news, CFO Kate Gulliver sold 5,974 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total transaction of $268,531.30. Following the transaction, the chief financial officer now directly owns 129,964 shares in the company, valued at approximately $5,841,881.80. This trade represents a 4.39 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total value of $52,625.35. Following the transaction, the chief operating officer now owns 171,790 shares in the company, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 164,228 shares of company stock worth $7,830,018. Corporate insiders own 26.81% of the company’s stock.

About Wayfair

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