Wayfair Inc. (W) Issues Quarterly Earnings Results

Wayfair Inc. (NYSE:W) released its quarterly earnings data on Thursday. The company reported ($0.65) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.03, Bloomberg Earnings reports. The firm 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 company’s revenue for the quarter was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.54) EPS.

In other Wayfair news, insider John Champlin Mulliken sold 941 shares of the company’s stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $62.37, for a total value of $58,690.17. Following the transaction, the insider now directly owns 1,000 shares in the company, valued at $62,370. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Steve Oblak sold 805 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $70.68, for a total transaction of $56,897.40. Following the completion of the transaction, the senior vice president now owns 120,534 shares in the company, valued at $8,519,343.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 420,752 shares of company stock worth $29,788,852. 56.93% of the stock is owned by corporate insiders.

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Several research analysts have recently commented on the stock. DA Davidson dropped their price target on shares of Wayfair to $60.00 and set a “neutral” rating on the stock in a research note on Friday. Canaccord Genuity restated a “buy” rating and set a $90.00 price target on shares of Wayfair in a research note on Thursday. Cowen and Company restated a “buy” rating and set a $72.00 price target (down previously from $82.00) on shares of Wayfair in a research note on Wednesday. MKM Partners assumed coverage on shares of Wayfair in a research note on Wednesday, October 18th. They set a “buy” rating and a $85.00 price target on the stock. Finally, Oppenheimer Holdings, Inc. set a $88.00 price target on shares of Wayfair and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $78.07.

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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