Wedbush Analysts Increase Earnings Estimates for Wayfair Inc. (W)
Wayfair Inc. (NYSE:W) – Research analysts at Wedbush upped their Q3 2017 earnings per share (EPS) estimates for shares of Wayfair in a report released on Wednesday. Wedbush analyst S. Basham now expects that the company will post earnings of ($0.70) per share for the quarter, up from their previous estimate of ($0.72). Wedbush has a “Outperform” rating and a $82.00 price objective on the stock. Wedbush also issued estimates for Wayfair’s Q4 2017 earnings at ($0.37) EPS, FY2017 earnings at ($2.19) EPS, FY2018 earnings at ($1.27) EPS and FY2019 earnings at ($0.02) EPS.
Wayfair (NYSE:W) last announced its earnings results on Tuesday, August 8th. The company reported ($0.26) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.43. Wayfair had a negative return on equity of 335.44% and a negative net margin of 5.10%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the company posted ($0.43) EPS. The firm’s quarterly revenue was up 42.7% compared to the same quarter last year.
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A number of other analysts have also recently commented on the company. Piper Jaffray Companies reiterated a “buy” rating and set a $89.00 target price on shares of Wayfair in a research report on Friday, September 8th. Maxim Group cut Wayfair from a “buy” rating to a “hold” rating and lifted their target price for the stock from $27.60 to $76.17 in a research report on Monday, June 19th. They noted that the move was a valuation call. Gordon Haskett upgraded Wayfair from an “accumulate” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $88.00 target price on shares of Wayfair in a research report on Wednesday, September 13th. Finally, Buckingham Research reiterated a “buy” rating and set a $95.00 target price (up previously from $72.00) on shares of Wayfair in a research report on Thursday, July 13th. They noted that the move was a valuation call. Nine research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Wayfair has a consensus rating of “Buy” and a consensus target price of $77.07.
Wayfair (NYSE:W) opened at 68.99 on Friday. The company’s 50-day moving average price is $73.00 and its 200 day moving average price is $65.13. Wayfair has a 12 month low of $27.60 and a 12 month high of $84.19. The firm’s market capitalization is $6.01 billion.
Several large investors have recently made changes to their positions in the company. First Personal Financial Services boosted its stake in shares of Wayfair by 12.8% during the 2nd quarter. First Personal Financial Services now owns 2,792 shares of the company’s stock worth $215,000 after acquiring an additional 317 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Wayfair by 96.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,360 shares of the company’s stock worth $105,000 after acquiring an additional 667 shares in the last quarter. Nationwide Fund Advisors boosted its stake in shares of Wayfair by 2.1% during the 1st quarter. Nationwide Fund Advisors now owns 33,721 shares of the company’s stock worth $1,365,000 after acquiring an additional 709 shares in the last quarter. Pacer Advisors Inc. boosted its stake in shares of Wayfair by 18.9% during the 2nd quarter. Pacer Advisors Inc. now owns 4,903 shares of the company’s stock worth $377,000 after acquiring an additional 779 shares in the last quarter. Finally, Ingalls & Snyder LLC boosted its stake in shares of Wayfair by 0.7% during the 2nd quarter. Ingalls & Snyder LLC now owns 114,751 shares of the company’s stock worth $8,822,000 after acquiring an additional 825 shares in the last quarter. 66.15% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Michael D. Fleisher sold 4,719 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $82.35, for a total transaction of $388,609.65. Following the sale, the chief financial officer now owns 50,844 shares of the company’s stock, valued at approximately $4,187,003.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Niraj Shah sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $73.77, for a total value of $3,688,500.00. Following the sale, the chief executive officer now directly owns 86,136 shares in the company, valued at approximately $6,354,252.72. The disclosure for this sale can be found here. Insiders have sold a total of 764,451 shares of company stock worth $56,262,879 in the last quarter. 56.93% of the stock is currently owned by insiders.
Wayfair Inc (Wayfair) offers browsing, merchandising and product discovery for a range of products from various suppliers. The Company operates through two segments: U.S. and International. The U.S. segment consists of amounts earned through product sales through the Company’s five sites in the United States and through sites operated by third parties in the United States.
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