Wayfair Inc. (W) Posts Earnings Results, Beats Expectations By $0.03 EPS
Wayfair Inc. (NYSE:W) announced its quarterly earnings data on Thursday. The company reported ($0.65) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.68) by $0.03, Bloomberg Earnings reports. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The firm’s revenue for the quarter was up 39.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.54) earnings per share.
In other news, SVP Steve Oblak sold 400 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $77.92, for a total transaction of $31,168.00. Following the sale, the senior vice president now directly owns 120,621 shares in the company, valued at $9,398,788.32. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider John Champlin Mulliken sold 941 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $62.37, for a total value of $58,690.17. Following the sale, the insider now owns 1,000 shares in the company, valued at $62,370. The disclosure for this sale can be found here. Insiders sold a total of 420,752 shares of company stock worth $29,788,852 over the last 90 days. 56.93% of the stock is currently owned by company insiders.
W has been the topic of several analyst reports. Piper Jaffray Companies reaffirmed a “buy” rating and set a $89.00 price target on shares of Wayfair in a research report on Friday, September 8th. Gordon Haskett raised shares of Wayfair from an “accumulate” rating to a “buy” rating and set a $89.00 price target on the stock in a research report on Tuesday, September 5th. Wedbush reaffirmed an “outperform” rating and set a $82.00 price target on shares of Wayfair in a research report on Wednesday, October 4th. Oppenheimer Holdings, Inc. set a $88.00 price target on shares of Wayfair and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Finally, Buckingham Research reaffirmed a “buy” rating and set a $95.00 price target (up from $72.00) on shares of Wayfair in a research report on Thursday, July 13th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $78.07.
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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