William Blair Issues Optimistic Outlook for Wayfair Earnings

Wayfair Inc. (NYSE:W - Free Report) - Analysts at William Blair upped their FY2024 EPS estimates for Wayfair in a research note issued on Wednesday, February 5th. William Blair analyst P. Blee now expects that the company will post earnings of ($2.82) per share for the year, up from their previous estimate of ($2.86). The consensus estimate for Wayfair's current full-year earnings is ($2.90) per share. William Blair also issued estimates for Wayfair's Q4 2024 earnings at ($0.77) EPS, Q1 2025 earnings at ($0.83) EPS, Q2 2025 earnings at ($0.33) EPS, Q3 2025 earnings at ($0.62) EPS and FY2025 earnings at ($2.24) EPS.

Several other brokerages also recently weighed in on W. Piper Sandler dropped their target price on shares of Wayfair from $67.00 to $63.00 and set an "overweight" rating for the company in a report on Monday, October 28th. Citigroup dropped their price target on Wayfair from $70.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Mizuho reduced their price target on shares of Wayfair from $65.00 to $60.00 and set an "outperform" rating on the stock in a report on Monday, November 4th. Loop Capital raised their price target on Wayfair from $50.00 to $55.00 and gave the company a "hold" rating in a report on Monday, December 16th. Finally, Wedbush lowered shares of Wayfair from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $45.00 to $44.00 in a research report on Monday, January 6th. Fourteen analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Wayfair currently has an average rating of "Moderate Buy" and an average target price of $60.24.

Wayfair Stock Performance

Shares of NYSE W traded up $0.99 during midday trading on Friday, reaching $44.75. The stock had a trading volume of 2,251,346 shares, compared to its average volume of 3,311,279. The company has a market capitalization of $5.61 billion, a price-to-earnings ratio of -9.96 and a beta of 3.43. Wayfair has a 12-month low of $37.35 and a 12-month high of $76.18. The stock has a 50-day moving average of $47.32 and a 200-day moving average of $46.74.

Hedge Funds Weigh In On Wayfair

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. J.Safra Asset Management Corp lifted its holdings in Wayfair by 71.3% in the 4th quarter. J.Safra Asset Management Corp now owns 586 shares of the company's stock valued at $26,000 after purchasing an additional 244 shares in the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Wayfair by 577.0% in the fourth quarter. Jones Financial Companies Lllp now owns 589 shares of the company's stock worth $26,000 after buying an additional 502 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Wayfair during the third quarter worth about $29,000. GAMMA Investing LLC grew its stake in Wayfair by 65.5% during the 4th quarter. GAMMA Investing LLC now owns 710 shares of the company's stock valued at $31,000 after acquiring an additional 281 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Wayfair in the 3rd quarter valued at about $44,000. 89.67% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Wayfair

In other Wayfair news, insider Steven Conine sold 30,000 shares of Wayfair stock in a transaction on Friday, December 6th. The shares were sold at an average price of $53.14, for a total value of $1,594,200.00. Following the completion of the transaction, the insider now owns 632,573 shares of the company's stock, valued at approximately $33,614,929.22. The trade was a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jon Blotner sold 5,669 shares of the firm'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 sale, the insider now owns 57,899 shares in the company, valued at $2,479,814.17. This trade represents a 8.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 164,228 shares of company stock worth $7,709,418 over the last three months. Company 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.