Wayfair Inc (W) is Downgraded by Citigroup to Neutral

Wayfair Inc (W) was Downgraded by Citigroup to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on Wayfair Inc. Wayfair Inc was Initiated by JP Morgan to “Neutral” on Apr 25, 2016. Buckingham Research Initiated Wayfair Inc on Apr 11, 2016 to “Buy”, Price Target of the shares are set at $52.Wayfair Inc was Initiated by Sterne Agee CRT to “Neutral” on Apr 6, 2016.

On the company’s financial health, Wayfair Inc reported $-0.36 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.34. The company had revenue of $747.30 million for the quarter, compared to analysts expectations of $695.17 million. The company’s revenue was up 76.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.23 EPS.

Wayfair Inc closed down -0.07 points or -0.19% at $35.99 with 20,24,385 shares getting traded on Friday. Post opening the session at $35.69, the shares hit an intraday low of $34.1 and an intraday high of $36.39 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 6, 2016, James Savarese (Chief Operating Officer) sold 500 shares at $35.76 per share price. According to the SEC, on May 3, 2016, Edmond Macri (Chief Product) sold 500 shares at $35.23 per share price. On May 3, 2016, Steve Oblak (SVP and GM, Wayfair.com) sold 375 shares at $37.46 per share price, according to the Form-4 filing with the securities and exchange commission.

Wayfair Inc. (Wayfair) is an online destination for the home. Through its e-commerce business model the Company offers browsing merchandising product discovery and prices for over seven million products from over 7000 suppliers across five brands: Wayfair.com Joss & Main AllModern DwellStudio and Birch Lane. The Company offers a range of furniture home furnishings decor and goods. Wayfair.com is its flagship mass market brand that focuses on offering a range of home furnishings and decor. Joss & Main is the Company’s online flash sales site. AllModern is an online destination for original design for home enthusiasts. DwellStudio is an online design studio for home furnishings. Birch Lane is a new destination for home designs. Wayfair also generates revenues online through its retail partners. Wayfair Media Solutions helps selected manufacturers retailers and other advertisers market to its consumer audience.

Wayfair Inc

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