Wayfair (NYSE:W) Announces Quarterly Earnings Results, Misses Estimates By $1.01 EPS

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.

Wayfair Price Performance

NYSE W traded down $2.21 on Thursday, hitting $44.12. 4,228,783 shares of the stock were exchanged, compared to its average volume of 3,474,677. The company has a market capitalization of $5.53 billion, a PE ratio of -9.72 and a beta of 3.43. The business’s fifty day moving average is $46.57 and its 200 day moving average is $46.51. Wayfair has a 52 week low of $37.35 and a 52 week high of $76.18.

Insider Activity

In related news, CFO Kate Gulliver sold 5,974 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $44.95, for a total value of $268,531.30. Following the sale, the chief financial officer now owns 129,964 shares in the company, valued at approximately $5,841,881.80. This represents a 4.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $48.45, for a total transaction of $1,453,500.00. Following the transaction, the insider now directly owns 589,073 shares of the company’s stock, valued at approximately $28,540,586.85. This trade represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 134,228 shares of company stock valued at $6,440,118 in the last quarter. Company insiders own 26.81% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wedbush cut shares of Wayfair from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $45.00 to $44.00 in a research report on Monday, January 6th. BMO Capital Markets lowered their price target on Wayfair from $58.00 to $50.00 and set a “market perform” rating for the company in a report on Monday, November 4th. Citigroup dropped their price target on Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Robert W. Baird lowered their target price on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price target on shares of Wayfair in a research note on Friday, November 1st. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Wayfair presently has a consensus rating of “Moderate Buy” and an average target price of $60.24.

Wayfair Company Profile

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.