Analysts Issue Forecasts for Wayfair Inc.’s FY2024 Earnings (NYSE:W)

Wayfair Inc. (NYSE:W) – Analysts at Wedbush decreased their FY2024 earnings per share (EPS) estimates for shares of Wayfair in a research report issued on Wednesday, September 25th. Wedbush analyst S. Basham now forecasts that the company will earn ($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 ($2.66) 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 research analysts have also weighed in on the company. Truist Financial reduced 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. Loop Capital increased their price target on Wayfair from $45.00 to $55.00 and gave the stock a “hold” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on Wayfair from $87.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Barclays reduced their price target on Wayfair from $58.00 to $51.00 and set an “equal weight” rating on the stock in a research note on Monday, August 5th. Finally, Guggenheim reissued a “buy” rating and set a $70.00 price target on shares of Wayfair in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.83.

Wayfair Stock Performance

Shares of NYSE:W opened at $56.76 on Monday. Wayfair has a one year low of $38.02 and a one year high of $76.18. The stock has a market cap of $6.83 billion, a PE ratio of -10.59 and a beta of 3.40. The business’s fifty day moving average price is $46.51 and its two-hundred day moving average price is $54.61.

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

Insider Buying and Selling at Wayfair

In other news, insider Jon Blotner sold 4,801 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the sale, the insider now directly owns 53,152 shares in the company, valued at $2,708,094.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Jon Blotner sold 4,801 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $50.95, for a total transaction of $244,610.95. Following the completion of the sale, the insider now directly owns 53,152 shares in the company, valued at $2,708,094.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Thomas Netzer sold 1,011 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were 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 of the company’s stock, valued at $7,502,054.84. The disclosure for this sale can be found here. Insiders have sold 41,113 shares of company stock valued at $2,126,623 over the last three months. 26.81% of the stock is owned by company insiders.

Institutional Trading of Wayfair

Several large investors have recently modified their holdings of W. WealthPlan Investment Management LLC grew its stake in Wayfair by 5.6% in the first quarter. WealthPlan Investment Management LLC now owns 5,097 shares of the company’s stock worth $346,000 after purchasing an additional 271 shares in the last quarter. Treasurer of the State of North Carolina grew its stake in Wayfair by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 36,486 shares of the company’s stock worth $2,251,000 after purchasing an additional 360 shares in the last quarter. QRG Capital Management Inc. grew its stake in Wayfair by 12.0% in the first quarter. QRG Capital Management Inc. now owns 3,716 shares of the company’s stock worth $252,000 after purchasing an additional 399 shares in the last quarter. Riverview Trust Co acquired a new position in Wayfair in the first quarter worth about $27,000. Finally, BI Asset Management Fondsmaeglerselskab A S grew its stake in Wayfair by 39.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,676 shares of the company’s stock worth $114,000 after purchasing an additional 471 shares in the last quarter. 89.67% of the stock is currently owned by institutional investors and hedge funds.

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.