Wayfair (NYSE:W) Issues Quarterly Earnings Results, Misses Expectations By $1.01 EPS

Wayfair (NYSE:W) announced its quarterly earnings data on Thursday. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($1.01), Zacks reports. The company had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.07 billion.

Wayfair Stock Performance

NYSE:W opened at $41.92 on Friday. The business has a 50 day moving average of $46.42 and a 200 day moving average of $46.50. Wayfair has a 1-year low of $37.35 and a 1-year high of $76.18.

Insider Buying and Selling

In related news, insider Steven Conine sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $46.33, for a total value of $1,389,900.00. Following the completion of the sale, the insider now owns 559,073 shares in the company, valued at $25,901,852.09. The trade was a 5.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jon Blotner sold 4,966 shares of Wayfair stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $44.93, for a total value of $223,122.38. Following the completion of the transaction, the insider now directly owns 68,089 shares in the company, valued at $3,059,238.77. This trade represents a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock worth $7,830,018 in the last quarter. 26.81% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on W shares. Robert W. Baird decreased their price objective on Wayfair from $56.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Loop Capital decreased their price objective on Wayfair from $55.00 to $45.00 and set a “hold” rating for the company in a report on Friday. Wedbush restated a “neutral” rating and issued a $46.00 target price (up previously from $44.00) on shares of Wayfair in a research note on Friday. Deutsche Bank Aktiengesellschaft cut their target price on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Stifel Nicolaus cut their target price on Wayfair from $47.00 to $46.00 and set a “hold” rating for the company in a research note on Friday. Fourteen research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Wayfair has a consensus rating of “Moderate Buy” and an average target price of $58.80.

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.