Wayfair (NYSE:W) Issues Quarterly Earnings Results

Wayfair (NYSE:W) posted its earnings results on Thursday. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($1.01), Zacks reports.

Wayfair Stock Down 4.8 %

Shares of NYSE W traded down $2.21 during trading on Thursday, reaching $44.12. The company had a trading volume of 4,228,783 shares, compared to its average volume of 3,474,677. Wayfair has a 12 month low of $37.35 and a 12 month high of $76.18. The stock has a market cap of $5.53 billion, a P/E ratio of -9.72 and a beta of 3.43. The company’s fifty day moving average price is $46.57 and its 200-day moving average price is $46.51.

Insider Buying and Selling

In other Wayfair news, insider Steven Conine sold 30,000 shares of the stock in a transaction dated 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 completion of the sale, the insider now directly owns 632,573 shares in the company, valued at approximately $33,614,929.22. This trade represents a 4.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jon Blotner sold 5,669 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $42.83, for a total value of $242,803.27. Following the completion of the transaction, the insider now directly owns 57,899 shares in the company, valued at $2,479,814.17. This represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 134,228 shares of company stock valued at $6,440,118 over the last ninety days. 26.81% of the stock is owned by company insiders.

Analyst Ratings Changes

W has been the topic of a number of recent research reports. Truist Financial lowered their price target on shares of Wayfair from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Citigroup lowered their target price on shares of Wayfair from $70.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Deutsche Bank Aktiengesellschaft cut their price target on Wayfair from $69.00 to $46.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Stifel Nicolaus lowered their price objective on Wayfair from $55.00 to $47.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $60.00 target price on shares of Wayfair in a report on Friday, November 1st. Fourteen research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Wayfair currently has an average rating of “Moderate Buy” and an average target price of $60.24.

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.