Wayfair (NYSE:W - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.54, Briefing.com reports. During the same period last year, the firm posted $0.47 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year.
Wayfair Stock Performance
Shares of NYSE W traded up $7.01 during mid-day trading on Monday, reaching $72.23. 8,073,838 shares of the company's stock were exchanged, compared to its average volume of 5,141,110. The firm has a market capitalization of $9.27 billion, a price-to-earnings ratio of -25.35 and a beta of 2.92. Wayfair has a 52-week low of $20.41 and a 52-week high of $73.79. The company's 50-day moving average is $52.58 and its 200-day moving average is $42.25.
Insider Activity at Wayfair
In related news, CEO Niraj Shah sold 60,000 shares of Wayfair stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $56.03, for a total value of $3,361,800.00. Following the completion of the sale, the chief executive officer owned 169,137 shares in the company, valued at approximately $9,476,746.11. This trade represents a 26.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Blotner sold 13,857 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $56.45, for a total value of $782,227.65. Following the transaction, the insider owned 91,263 shares in the company, valued at $5,151,796.35. This trade represents a 13.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 800,204 shares of company stock worth $40,135,236. Company insiders own 21.91% of the company's stock.
Institutional Investors Weigh In On Wayfair
A hedge fund recently raised its stake in Wayfair stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Wayfair Inc. (NYSE:W - Free Report) by 29.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 67,023 shares of the company's stock after purchasing an additional 15,084 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.05% of Wayfair worth $2,147,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 89.67% of the company's stock.
Analysts Set New Price Targets
W has been the subject of a number of research analyst reports. Mizuho reduced their target price on Wayfair from $60.00 to $50.00 and set an "outperform" rating for the company in a research note on Friday, May 2nd. Wedbush raised Wayfair to a "hold" rating in a report on Thursday, May 1st. Bank of America raised their price objective on Wayfair from $36.00 to $43.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 14th. UBS Group upped their target price on Wayfair from $55.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Evercore ISI increased their price target on shares of Wayfair from $50.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $50.85.
Read Our Latest Stock Report on W
Wayfair Company Profile
(
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Wayfair Inc provides e-commerce business in the United States and internationally. The company offers approximately thirty million products for the home sector. It offers online selections of furniture, décor, housewares, and home improvement products through its sites consisting of Wayfair, Joss & Main, AllModern, Birch Lane, Perigold, and Wayfair Professional.
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