FY2024 EPS Estimates for Wayfair Inc. Lowered by Wedbush (NYSE:W)

Wayfair Inc. (NYSE:W) – Research analysts at Wedbush reduced their FY2024 EPS estimates for shares of Wayfair in a report issued on Wednesday, September 25th. Wedbush analyst S. Basham now forecasts that the company will post earnings of ($2.51) per share for the year, down from their previous estimate of ($2.42). Wedbush has a “Outperform” rating and a $60.00 price target on the stock. The consensus estimate for Wayfair’s current full-year earnings is ($2.68) per share. Wedbush also issued estimates for Wayfair’s Q4 2024 earnings at ($0.50) EPS, FY2025 earnings at ($2.12) EPS and FY2026 earnings at ($1.38) EPS.

Several other equities research analysts have also recently issued reports on W. Loop Capital raised their price objective on shares of Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, September 26th. Raymond James lowered their target price on shares of Wayfair from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research note on Friday, August 2nd. Gordon Haskett lowered shares of Wayfair from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. StockNews.com upgraded shares of Wayfair from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Finally, Truist Financial decreased their price target on Wayfair from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Twelve analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.83.

Wayfair Price Performance

W stock opened at $53.24 on Monday. Wayfair has a 1 year low of $38.02 and a 1 year high of $76.18. The firm has a market capitalization of $6.57 billion, a PE ratio of -9.93 and a beta of 3.40. The business has a 50 day simple moving average of $46.61 and a 200-day simple moving average of $54.49.

Wayfair (NYSE:W) last announced its earnings results on Thursday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the business posted ($1.27) earnings per share. The firm’s revenue was up .2% compared to the same quarter last year.

Institutional Trading of Wayfair

Large investors have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in shares of Wayfair during the first quarter worth about $27,000. ORG Partners LLC purchased a new position in shares of Wayfair in the 1st quarter valued at approximately $37,000. International Assets Investment Management LLC acquired a new position in shares of Wayfair in the second quarter valued at approximately $58,000. Comerica Bank raised its stake in shares of Wayfair by 210.9% during the first quarter. Comerica Bank now owns 1,222 shares of the company’s stock worth $83,000 after purchasing an additional 829 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Wayfair during the second quarter worth $109,000. Institutional investors and hedge funds own 89.67% of the company’s stock.

Insider Transactions at Wayfair

In other Wayfair news, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $49,963.62. Following the transaction, the chief operating officer now owns 151,802 shares of the company’s stock, valued at $7,502,054.84. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, COO Thomas Netzer sold 1,011 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total value of $49,963.62. Following the completion of the sale, the chief operating officer now directly owns 151,802 shares of the company’s stock, valued at approximately $7,502,054.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jon Blotner sold 4,395 shares of Wayfair stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $56.09, for a total value of $246,515.55. Following the transaction, the insider now directly owns 43,926 shares in the company, valued at approximately $2,463,809.34. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,826 shares of company stock worth $842,890. 26.81% of the stock is currently owned by 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.