Wayfair Inc. (NYSE:W) Posts Quarterly Earnings Results, Beats Estimates By $0.43 EPS

Wayfair Inc. (NYSE:W) released its quarterly 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, Bloomberg Earnings reports. Wayfair had a negative net margin of 5.10% and a negative return on equity of 335.44%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the business earned ($0.43) earnings per share. The firm’s revenue was up 42.7% compared to the same quarter last year.

Shares of Wayfair (NYSE W) opened at 66.87 on Friday. The firm has a 50-day moving average of $74.83 and a 200 day moving average of $56.94. Wayfair has a 52-week low of $27.60 and a 52-week high of $82.19. The company’s market capitalization is $5.83 billion.

In related news, SVP Steve Oblak sold 643 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $63.41, for a total value of $40,772.63. Following the completion of the transaction, the senior vice president now directly owns 116,930 shares of the company’s stock, valued at $7,414,531.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Conine sold 55,000 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $76.63, for a total transaction of $4,214,650.00. Following the completion of the transaction, the insider now directly owns 55,000 shares of the company’s stock, valued at $4,214,650. The disclosure for this sale can be found here. Insiders sold 882,213 shares of company stock worth $64,889,128 over the last quarter. 63.94% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Wayfair during the second quarter worth about $277,000. Verition Fund Management LLC acquired a new stake in shares of Wayfair during the second quarter worth about $251,000. California State Teachers Retirement System boosted its stake in shares of Wayfair by 10.0% in the second quarter. California State Teachers Retirement System now owns 68,366 shares of the company’s stock worth $5,256,000 after buying an additional 6,224 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Wayfair during the second quarter worth about $3,466,000. Finally, Maverick Capital Ltd. acquired a new stake in shares of Wayfair during the second quarter worth about $4,015,000.

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A number of equities research analysts have recently issued reports on W shares. Zacks Investment Research upgraded shares of Wayfair from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Thursday, April 27th. Piper Jaffray Companies restated an “overweight” rating and set a $87.00 price target (up previously from $70.00) on shares of Wayfair in a report on Wednesday, June 14th. Maxim Group boosted their price target on shares of Wayfair from $53.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. CIBC upgraded shares of Wayfair from a “market perform” rating to an “outperform” rating in a report on Friday, June 2nd. Finally, Bank of America Corporation upgraded shares of Wayfair from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $75.00 in a report on Tuesday, May 9th. Ten investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Wayfair presently has a consensus rating of “Buy” and an average target price of $69.15.

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.

Earnings History for Wayfair (NYSE:W)

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