Wayfair (NYSE:W) Announces Earnings Results

Wayfair (NYSE:W – Get Rating) posted its earnings results on Thursday. The company reported ($1.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.89) by ($0.05), Briefing.com reports. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same period in the prior year, the company posted $1.23 EPS. The firm’s revenue for the quarter was down 14.9% compared to the same quarter last year.

Wayfair Price Performance

W opened at $62.31 on Friday. The company’s 50 day simple moving average is $52.87 and its two-hundred day simple moving average is $90.24. Wayfair has a 1-year low of $43.31 and a 1-year high of $317.45.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 2,170 shares of Wayfair stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $56.45, for a total transaction of $122,496.50. Following the sale, the chief operating officer now owns 51,125 shares of the company’s stock, valued at approximately $2,886,006.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Thomas Netzer sold 2,170 shares of Wayfair stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $56.45, for a total transaction of $122,496.50. Following the sale, the chief operating officer now owns 51,125 shares of the company’s stock, valued at approximately $2,886,006.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steve Oblak sold 1,722 shares of Wayfair stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $45.89, for a total transaction of $79,022.58. Following the sale, the insider now directly owns 154,643 shares in the company, valued at approximately $7,096,567.27. The disclosure for this sale can be found here. Insiders have sold 20,251 shares of company stock valued at $994,669 in the last ninety days. 27.04% of the stock is currently owned by corporate insiders.

Institutional Trading of Wayfair

Several institutional investors have recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. increased its holdings in Wayfair by 5.0% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 5,854 shares of the company’s stock valued at $648,000 after purchasing an additional 281 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Wayfair by 16.9% in the first quarter. HighTower Advisors LLC now owns 2,360 shares of the company’s stock worth $259,000 after acquiring an additional 342 shares in the last quarter. Aviva PLC grew its stake in shares of Wayfair by 1.5% in the first quarter. Aviva PLC now owns 23,470 shares of the company’s stock worth $2,600,000 after acquiring an additional 346 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Wayfair by 102.6% in the first quarter. Captrust Financial Advisors now owns 780 shares of the company’s stock worth $86,000 after acquiring an additional 395 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its stake in shares of Wayfair by 42.7% in the first quarter. Panagora Asset Management Inc. now owns 2,204 shares of the company’s stock worth $244,000 after acquiring an additional 659 shares in the last quarter. Institutional investors and hedge funds own 85.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on W. Loop Capital decreased their price objective on Wayfair from $90.00 to $70.00 in a report on Friday, May 6th. Morgan Stanley reduced their target price on Wayfair from $90.00 to $70.00 in a research note on Friday, May 6th. MKM Partners initiated coverage on Wayfair in a research note on Thursday, July 28th. They issued a “neutral” rating and a $50.00 target price for the company. Credit Suisse Group reduced their target price on Wayfair from $195.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Piper Sandler reduced their target price on Wayfair from $65.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, July 20th. Ten research 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.com, the company currently has a consensus rating of “Hold” and a consensus target price of $96.58.

About Wayfair

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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.