Brokers Offer Predictions for Wayfair Inc.'s FY2024 Earnings (NYSE:W)

Wayfair Inc. (NYSE:W - Free Report) - Equities researchers at Wedbush reduced their FY2024 earnings estimates for Wayfair in a research report issued on Wednesday, September 25th. Wedbush analyst S. Basham now expects that the company will post earnings of ($2.51) per share for the year, down from their prior estimate of ($2.42). Wedbush has a "Outperform" rating and a $60.00 price objective 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.

A number of other equities analysts have also weighed in on W. Barclays lowered their price target on shares of Wayfair from $58.00 to $51.00 and set an "equal weight" rating on the stock in a research report on Monday, August 5th. Truist Financial cut their price target on Wayfair from $70.00 to $60.00 and set a "buy" rating for the company in a report on Friday, August 2nd. Argus downgraded Wayfair from a "buy" rating to a "hold" rating in a research report on Monday, August 26th. Piper Sandler dropped their target price on Wayfair from $91.00 to $67.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. Finally, Bank of America lowered Wayfair from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $85.00 to $58.00 in a report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.83.

Wayfair Stock Down 1.0 %

Shares of Wayfair stock traded down $0.58 during mid-day trading on Monday, reaching $56.18. 2,513,125 shares of the stock traded hands, compared to its average volume of 4,277,190. The stock has a market capitalization of $6.94 billion, a PE ratio of -10.46 and a beta of 3.40. The business has a 50-day moving average of $46.51 and a 200 day moving average of $54.54. Wayfair has a fifty-two week low of $38.02 and a fifty-two week high of $76.18.

Wayfair (NYSE:W - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.47 earnings per share for the quarter, missing analysts' consensus estimates 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 period in the previous year, the company earned ($1.27) EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year.

Institutional Trading of Wayfair

Several institutional investors and hedge funds have recently bought and sold shares of W. Teachers Retirement System of The State of Kentucky increased its position in Wayfair by 12.3% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 126,552 shares of the company's stock valued at $6,673,000 after acquiring an additional 13,832 shares during the period. Truist Financial Corp grew its stake in shares of Wayfair by 46.6% in the 2nd quarter. Truist Financial Corp now owns 9,527 shares of the company's stock valued at $502,000 after purchasing an additional 3,028 shares during the last quarter. Quarry LP increased its holdings in shares of Wayfair by 880.0% in the second quarter. Quarry LP now owns 2,548 shares of the company's stock valued at $134,000 after purchasing an additional 2,288 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Wayfair by 8.1% during the second quarter. The Manufacturers Life Insurance Company now owns 17,981 shares of the company's stock worth $948,000 after purchasing an additional 1,355 shares during the last quarter. Finally, Maverick Capital Ltd. lifted its holdings in shares of Wayfair by 46.2% during the second quarter. Maverick Capital Ltd. now owns 721,618 shares of the company's stock worth $38,051,000 after purchasing an additional 227,908 shares during the period. Hedge funds and other institutional investors own 89.67% of the company's stock.

Insider Buying and Selling

In other 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 transaction of $49,963.62. Following the completion of the transaction, the chief operating officer now directly owns 151,802 shares of the company's stock, valued at approximately $7,502,054.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Wayfair news, insider Jon Blotner sold 4,395 shares of the company's stock in a transaction on Monday, July 15th. The shares were sold at an average price of $56.09, for a total value of $246,515.55. Following the completion of the transaction, the insider now owns 43,926 shares in the company, valued at $2,463,809.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of Wayfair 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 sale, the chief operating officer now owns 151,802 shares in the company, valued at approximately $7,502,054.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,113 shares of company stock worth $2,126,623. Corporate insiders own 26.81% of the company's stock.

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.