Wayfair (NYSE:W) Issues Quarterly Earnings Results, Misses Expectations By $1.01 EPS

Wayfair (NYSE:W) posted its quarterly earnings data on Thursday. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of $0.05 by ($1.01), Zacks reports.

Wayfair Trading Down 2.1 %

W stock traded down $0.99 during mid-day trading on Thursday, hitting $45.35. 6,435,500 shares of the company were exchanged, compared to its average volume of 3,557,637. The business has a 50 day simple moving average of $46.57 and a 200-day simple moving average of $46.51. The stock has a market capitalization of $5.68 billion, a PE ratio of -10.06 and a beta of 3.43. Wayfair has a 1-year low of $37.35 and a 1-year high of $76.18.

Insiders Place Their Bets

In other news, COO Thomas Netzer sold 1,039 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $50.65, for a total transaction of $52,625.35. Following the transaction, the chief operating officer now directly owns 171,790 shares of the company’s stock, valued at approximately $8,701,163.50. This trade represents a 0.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Conine sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $53.14, for a total transaction of $1,594,200.00. Following the transaction, the insider now directly owns 632,573 shares in the company, valued at $33,614,929.22. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,228 shares of company stock worth $6,440,118 over the last three months. Insiders own 26.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on W shares. BMO Capital Markets cut their price objective on shares of Wayfair from $58.00 to $50.00 and set a “market perform” rating on the stock in a research report on Monday, November 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Wayfair in a research report on Friday, November 1st. Wedbush cut shares of Wayfair from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $45.00 to $44.00 in a research report on Monday, January 6th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Wayfair from $69.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Mizuho cut their price target on shares of Wayfair from $65.00 to $60.00 and set an “outperform” rating on the stock in a research report on Monday, November 4th. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.24.

About Wayfair

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.