Wayfair Inc. (NYSE:W) Expected to Post Quarterly Sales of $3.39 Billion

Wall Street brokerages predict that Wayfair Inc. (NYSE:W) will post $3.39 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Wayfair’s earnings, with estimates ranging from $3.29 billion to $3.70 billion. Wayfair reported sales of $3.67 billion in the same quarter last year, which indicates a negative year over year growth rate of 7.6%. The firm is scheduled to announce its next quarterly earnings results on Thursday, February 24th.

On average, analysts expect that Wayfair will report full-year sales of $13.84 billion for the current year, with estimates ranging from $13.75 billion to $14.13 billion. For the next year, analysts anticipate that the firm will report sales of $15.72 billion, with estimates ranging from $14.13 billion to $18.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Wayfair.

Wayfair (NYSE:W) last announced its earnings results on Thursday, November 4th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.13. Wayfair had a net margin of 0.67% and a negative return on equity of 10.52%. The business had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the firm posted $1.80 earnings per share. The company’s revenue for the quarter was down 18.7% compared to the same quarter last year.

A number of equities analysts have issued reports on W shares. Wells Fargo & Company cut their target price on Wayfair from $285.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 4th. Piper Sandler decreased their target price on Wayfair from $360.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, October 25th. Wedbush reduced their price objective on Wayfair from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Friday, November 5th. Jefferies Financial Group lowered Wayfair from a “buy” rating to a “hold” rating and dropped their target price for the stock from $330.00 to $225.00 in a research report on Wednesday, October 13th. Finally, Morgan Stanley raised their target price on Wayfair from $195.00 to $200.00 and gave the company an “underweight” rating in a report on Monday, November 8th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wayfair presently has a consensus rating of “Hold” and an average price target of $302.58.

Shares of NYSE:W traded up $19.52 during midday trading on Monday, hitting $279.32. 1,896,173 shares of the stock were exchanged, compared to its average volume of 1,557,967. The company has a 50 day moving average price of $254.85 and a 200-day moving average price of $281.56. Wayfair has a twelve month low of $222.28 and a twelve month high of $369.00. The stock has a market cap of $29.20 billion, a P/E ratio of 358.11 and a beta of 2.92.

In other Wayfair news, CTO James R. Miller sold 3,985 shares of the company’s stock in a transaction on Tuesday, November 2nd. The stock was sold at an average price of $255.37, for a total transaction of $1,017,649.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael W. Choe bought 10,000 shares of Wayfair stock in a transaction dated Monday, November 22nd. The stock was purchased at an average price of $258.98 per share, with a total value of $2,589,800.00. The disclosure for this purchase can be found here. In the last three months, insiders sold 20,763 shares of company stock valued at $5,159,974. Company insiders own 27.53% of the company’s stock.

Several institutional investors have recently bought and sold shares of W. Activest Wealth Management purchased a new position in Wayfair in the 2nd quarter valued at approximately $33,000. Quadrant Capital Group LLC increased its position in shares of Wayfair by 55.4% during the second quarter. Quadrant Capital Group LLC now owns 129 shares of the company’s stock valued at $41,000 after buying an additional 46 shares during the period. Canada Pension Plan Investment Board purchased a new position in shares of Wayfair during the second quarter valued at about $47,000. Ameritas Investment Company LLC purchased a new position in shares of Wayfair during the first quarter valued at about $51,000. Finally, Destiny Wealth Partners LLC purchased a new stake in Wayfair in the third quarter worth about $51,000. 83.90% of the stock is currently owned by hedge funds and other institutional investors.

Wayfair Company Profile

Wayfair, Inc engages in an online home furnishing store. It operates through the U.S. and International segments. The U.S. segment consists of amounts earned through product sales through the Company’s five distinct sites in the U.S. and through websites operated by third parties in the U.S. The International segment is composed of earnings through products sales in international sites.

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Earnings History and Estimates for Wayfair (NYSE:W)

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