Wayfair (NYSE:W) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Wayfair (NYSE:WGet Rating) issued its quarterly earnings results on Thursday. The company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.89) by ($0.05), Briefing.com reports. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.19 billion. Wayfair’s revenue was down 14.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.23 EPS.

Wayfair Stock Performance

NYSE:W traded down $0.60 on Friday, reaching $62.31. The company’s stock had a trading volume of 3,806,403 shares, compared to its average volume of 3,160,407. Wayfair has a 1-year low of $43.31 and a 1-year high of $317.45. The firm has a market cap of $6.56 billion, a PE ratio of -13.63 and a beta of 2.91. The business’s 50-day moving average price is $52.87 and its two-hundred day moving average price is $90.24.

Analysts Set New Price Targets

W has been the subject of a number of recent analyst reports. Canaccord Genuity Group dropped their price target on shares of Wayfair from $145.00 to $120.00 in a research note on Friday, May 6th. Wedbush boosted their price objective on shares of Wayfair from $50.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday. Wells Fargo & Company dropped their price objective on shares of Wayfair from $65.00 to $50.00 and set an “underweight” rating on the stock in a report on Wednesday, June 8th. Evercore ISI lowered their price target on shares of Wayfair to $65.00 in a report on Thursday, June 9th. Finally, Morgan Stanley decreased their price objective on shares of Wayfair from $90.00 to $70.00 in a report on Friday, May 6th. Ten equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $96.58.

Insider Transactions at Wayfair

In related news, insider Steve Oblak sold 1,722 shares of the stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $45.89, for a total transaction of $79,022.58. Following the completion of the transaction, the insider now directly owns 154,643 shares of the company’s stock, valued at $7,096,567.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Wayfair news, COO Thomas Netzer sold 1,965 shares of Wayfair stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $43.93, for a total transaction of $86,322.45. Following the transaction, the chief operating officer now directly owns 47,295 shares of the company’s stock, valued at approximately $2,077,669.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Steve Oblak sold 1,722 shares of Wayfair stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $45.89, for a total value of $79,022.58. Following the completion of the transaction, the insider now directly owns 154,643 shares of the company’s stock, valued at $7,096,567.27. The disclosure for this sale can be found here. Insiders sold 20,251 shares of company stock valued at $994,669 over the last three months. Company insiders own 27.04% of the company’s stock.

Institutional Investors Weigh In On Wayfair

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Stockbridge Partners LLC grew its stake in shares of Wayfair by 49.6% during the first quarter. Stockbridge Partners LLC now owns 1,171,862 shares of the company’s stock valued at $129,819,000 after buying an additional 388,622 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Wayfair during the first quarter valued at approximately $37,565,000. Ruane Cunniff & Goldfarb L.P. grew its position in Wayfair by 9.1% in the 1st quarter. Ruane Cunniff & Goldfarb L.P. now owns 3,440,017 shares of the company’s stock worth $381,085,000 after purchasing an additional 285,729 shares during the period. Wishbone Management LP grew its position in Wayfair by 36.5% in the 1st quarter. Wishbone Management LP now owns 730,461 shares of the company’s stock worth $80,920,000 after purchasing an additional 195,461 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Wayfair by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 6,540,088 shares of the company’s stock valued at $724,512,000 after acquiring an additional 132,647 shares during the period. Institutional investors own 85.89% of the company’s stock.

Wayfair Company Profile

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Wayfair Inc engages in the e-commerce business in the United States and internationally. The company provides approximately thirty-three million products for the home sector under various brands. It offers online selections of furniture, décor, housewares, and home improvement products through its sites, including Wayfair, Joss & Main, AllModern, Birch Lane, and Perigold brands.

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Earnings History for Wayfair (NYSE:W)

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