Brokerages forecast that Wayfair Inc (NYSE:W) will announce sales of $2.26 billion for the current quarter, according to Zacks Investment Research. Thirteen analysts have issued estimates for Wayfair’s earnings. The highest sales estimate is $2.27 billion and the lowest is $2.24 billion. Wayfair posted sales of $1.66 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 36.1%. The company is scheduled to announce its next quarterly earnings results on Thursday, August 1st.
According to Zacks, analysts expect that Wayfair will report full-year sales of $9.19 billion for the current financial year, with estimates ranging from $9.05 billion to $9.30 billion. For the next year, analysts expect that the firm will report sales of $11.88 billion, with estimates ranging from $11.43 billion to $12.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Wayfair.
Wayfair (NYSE:W) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($1.62) EPS for the quarter, missing the consensus estimate of ($1.60) by ($0.02). The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the company posted ($0.91) earnings per share. The business’s revenue was up 38.5% on a year-over-year basis.
Several equities research analysts recently commented on W shares. Deutsche Bank increased their price target on Wayfair from $124.00 to $168.00 and gave the company a “buy” rating in a report on Monday, February 25th. Credit Suisse Group raised their target price on Wayfair from $130.00 to $192.00 and gave the stock an “outperform” rating in a research note on Monday, February 25th. Evercore ISI began coverage on Wayfair in a research note on Wednesday, March 20th. They set an “outperform” rating and a $200.00 target price for the company. Wells Fargo & Co reissued a “hold” rating and set a $145.00 target price on shares of Wayfair in a research note on Friday, February 22nd. Finally, Robert W. Baird raised their target price on Wayfair from $108.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, February 25th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $149.90.
NYSE:W opened at $144.22 on Thursday. Wayfair has a one year low of $76.60 and a one year high of $173.72. The company has a market capitalization of $13.22 billion, a P/E ratio of -25.71 and a beta of 2.02.
In other news, CEO Niraj Shah sold 31,000 shares of Wayfair stock in a transaction on Monday, February 25th. The stock was sold at an average price of $159.36, for a total value of $4,940,160.00. Following the completion of the sale, the chief executive officer now directly owns 93,080 shares of the company’s stock, valued at $14,833,228.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steve Oblak sold 153 shares of Wayfair stock in a transaction on Friday, March 1st. The shares were sold at an average price of $167.88, for a total value of $25,685.64. The disclosure for this sale can be found here. Insiders sold 362,713 shares of company stock valued at $56,085,382 over the last ninety days. Insiders own 33.86% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC boosted its holdings in Wayfair by 261.4% in the first quarter. Whale Rock Capital Management LLC now owns 1,290,644 shares of the company’s stock valued at $191,596,000 after purchasing an additional 933,533 shares during the period. Summit Partners Public Asset Management LLC purchased a new stake in Wayfair during the 1st quarter worth about $7,423,000. Schonfeld Strategic Advisors LLC lifted its holdings in Wayfair by 42.4% during the 1st quarter. Schonfeld Strategic Advisors LLC now owns 8,400 shares of the company’s stock worth $1,247,000 after buying an additional 2,502 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in Wayfair by 16.3% during the 1st quarter. Advisors Asset Management Inc. now owns 10,529 shares of the company’s stock worth $1,563,000 after buying an additional 1,478 shares during the last quarter. Finally, Oxford Asset Management LLP purchased a new stake in Wayfair during the 1st quarter worth about $2,269,000. Hedge funds and other institutional investors own 79.25% of the company’s stock.
Wayfair Company Profile
Wayfair Inc engages in the e-commerce business in the United States, Europe, and internationally. It provides approximately 14 million products for the home sector under various brands. The company offers selection of furniture, décor, decorative accents, housewares, seasonal décor, and other home goods through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold.
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