Wayfair Inc. (W) Issues Earnings Results
Wayfair Inc. (NYSE:W) released its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.43, Bloomberg Earnings reports. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Wayfair had a negative net margin of 5.84% and a negative return on equity of 215.36%. The firm’s revenue for the quarter was up 42.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.43) earnings per share.
Wayfair (NYSE:W) opened at 80.57 on Tuesday. The firm has a 50-day moving average of $75.55 and a 200 day moving average of $54.28. The firm’s market capitalization is $6.98 billion. Wayfair has a 12-month low of $27.60 and a 12-month high of $82.19.
In other news, COO James Savarese sold 37,437 shares of Wayfair stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $80.15, for a total transaction of $3,000,575.55. Following the completion of the sale, the chief operating officer now directly owns 552,663 shares in the company, valued at $44,295,939.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Niraj Shah sold 40,000 shares of Wayfair stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $63.97, for a total transaction of $2,558,800.00. Following the sale, the chief executive officer now owns 209,319 shares of the company’s stock, valued at $13,390,136.43. The disclosure for this sale can be found here. Insiders have sold a total of 722,808 shares of company stock valued at $52,990,225 over the last 90 days. 63.94% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Wayfair by 96.2% in the second quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock valued at $105,000 after buying an additional 667 shares in the last quarter. First Mercantile Trust Co. bought a new stake in Wayfair during the second quarter valued at about $138,000. First Personal Financial Services boosted its stake in Wayfair by 15.1% in the first quarter. First Personal Financial Services now owns 2,475 shares of the company’s stock valued at $100,000 after buying an additional 325 shares in the last quarter. UBS Group AG boosted its stake in Wayfair by 55.5% in the first quarter. UBS Group AG now owns 2,690 shares of the company’s stock valued at $109,000 after buying an additional 960 shares in the last quarter. Finally, CIBC Asset Management Inc bought a new stake in Wayfair during the second quarter valued at about $208,000.
A number of analysts have recently commented on W shares. Zacks Investment Research raised shares of Wayfair from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Thursday, April 27th. Maxim Group reissued a “buy” rating and set a $53.00 target price (up previously from $45.00) on shares of Wayfair in a research note on Tuesday, May 2nd. Wedbush boosted their target price on shares of Wayfair from $45.00 to $55.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 3rd. Buckingham Research boosted their target price on shares of Wayfair from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Wayfair in a research note on Saturday, May 6th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.22.
Wayfair Company Profile
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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