FY2020 EPS Estimates for Wayfair Inc Increased by Analyst (W)
Wayfair Inc (NYSE:W) – Wedbush raised their FY2020 earnings estimates for shares of Wayfair in a research report issued to clients and investors on Wednesday. Wedbush analyst S. Basham now expects that the company will post earnings of $1.17 per share for the year, up from their previous forecast of $1.06. Wedbush has a “Outperform” rating and a $82.00 price objective on the stock.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative return on equity of 644.30% and a negative net margin of 3.46%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the firm earned ($0.43) EPS. Wayfair’s revenue for the quarter was up 42.7% compared to the same quarter last year.
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Several other research analysts have also issued reports on the company. Canaccord Genuity reiterated a “buy” rating and issued a $90.00 price target on shares of Wayfair in a report on Sunday. Piper Jaffray Companies set a $89.00 price target on Wayfair and gave the stock a “buy” rating in a report on Sunday. KeyCorp reiterated a “hold” rating on shares of Wayfair in a report on Friday, September 29th. Robert W. Baird reiterated a “hold” rating and issued a $73.00 price target on shares of Wayfair in a report on Thursday, September 28th. Finally, DA Davidson began coverage on Wayfair in a report on Wednesday, September 13th. They issued a “neutral” rating and a $78.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $77.07.
Shares of Wayfair (W) traded down 1.78% during midday trading on Thursday, reaching $71.73. The company had a trading volume of 1,179,074 shares. Wayfair has a 12-month low of $27.60 and a 12-month high of $84.19. The stock’s 50 day moving average is $72.93 and its 200-day moving average is $64.88. The stock’s market capitalization is $6.25 billion.
Several hedge funds and other institutional investors have recently made changes to their positions in W. Nationwide Fund Advisors grew its position in shares of Wayfair by 2.1% in the first quarter. Nationwide Fund Advisors now owns 33,721 shares of the company’s stock valued at $1,365,000 after purchasing an additional 709 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Wayfair by 3.8% in the first quarter. Wells Fargo & Company MN now owns 41,065 shares of the company’s stock valued at $1,663,000 after purchasing an additional 1,518 shares in the last quarter. First Trust Advisors LP grew its position in shares of Wayfair by 5.6% in the first quarter. First Trust Advisors LP now owns 76,895 shares of the company’s stock valued at $3,113,000 after purchasing an additional 4,058 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Wayfair by 2.5% in the first quarter. Bank of New York Mellon Corp now owns 129,187 shares of the company’s stock valued at $5,231,000 after purchasing an additional 3,160 shares in the last quarter. Finally, Swiss National Bank grew its position in shares of Wayfair by 7.2% in the first quarter. Swiss National Bank now owns 48,900 shares of the company’s stock valued at $1,980,000 after purchasing an additional 3,300 shares in the last quarter. Institutional investors own 66.15% of the company’s stock.
In other Wayfair news, insider Steven Conine sold 55,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $76.63, for a total value of $4,214,650.00. Following the completion of the sale, the insider now directly owns 55,000 shares of the company’s stock, valued at $4,214,650. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Michael D. Fleisher sold 4,719 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $82.35, for a total value of $388,609.65. Following the completion of the sale, the chief financial officer now directly owns 50,844 shares of the company’s stock, valued at $4,187,003.40. The disclosure for this sale can be found here. Insiders sold 763,751 shares of company stock worth $56,212,920 in the last 90 days. Corporate insiders own 56.93% of the company’s stock.
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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