Wayfair (NYSE:W) Posts Earnings Results, Beats Expectations By $0.24 EPS

Wayfair (NYSE:W - Get Free Report) issued its quarterly earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.24, Briefing.com reports. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. The firm's quarterly revenue was up .0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.32) EPS.

Wayfair Trading Up 8.1 %

Shares of W opened at $33.76 on Friday. The stock has a market cap of $4.28 billion, a PE ratio of -8.40 and a beta of 3.72. Wayfair has a 1 year low of $20.41 and a 1 year high of $76.18. The stock has a 50 day simple moving average of $31.32 and a 200-day simple moving average of $40.84.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Citigroup increased their price target on shares of Wayfair from $30.00 to $32.00 and gave the stock a "neutral" rating in a research report on Friday. Jefferies Financial Group upgraded Wayfair from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $45.00 to $47.00 in a research report on Friday, March 7th. UBS Group cut their target price on Wayfair from $60.00 to $55.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus decreased their price target on Wayfair from $46.00 to $29.00 and set a "hold" rating for the company in a research note on Wednesday, April 23rd. Finally, Wedbush restated a "neutral" rating and set a $46.00 price objective (up from $44.00) on shares of Wayfair in a research note on Friday, February 21st. Sixteen investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wayfair currently has a consensus rating of "Hold" and a consensus price target of $49.38.

Insider Activity at Wayfair

In related news, CFO Kate Gulliver sold 19,296 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.67, for a total transaction of $611,104.32. Following the transaction, the chief financial officer now owns 144,474 shares in the company, valued at $4,575,491.58. This represents a 11.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Fiona Tan sold 23,835 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $31.92, for a total transaction of $760,813.20. Following the completion of the sale, the chief technology officer now owns 111,128 shares of the company's stock, valued at $3,547,205.76. The trade was a 17.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,863 shares of company stock valued at $3,393,929 in the last 90 days. 21.91% of the stock is owned by corporate insiders.

Wayfair Company Profile

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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