Wayfair Inc (W) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Aug 10, 2016.
Many Wall Street Analysts have commented on Wayfair Inc. Shares were Reiterated by Maxim Group on Aug 9, 2016 to “Buy” and Lowered the Price Target to $ 49 from a previous price target of $50 .Wayfair Inc was Initiated by Longbow to “Neutral” on Jun 16, 2016. Maxim Group Initiated Wayfair Inc on May 26, 2016 to “Buy”, Price Target of the shares are set at $50.
On the company’s financial health, Wayfair Inc reported $-0.43 EPS for the quarter, missing the analyst consensus estimate by $ -0.03 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.40. The company had revenue of $786.90 million for the quarter, compared to analysts expectations of $782.45 million. The company’s revenue was up 60.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.15 EPS.
Wayfair Inc opened for trading at $48.08 and hit $48.44 on the upside on Monday, eventually ending the session at $48.25, with a gain of 0.46% or 0.22 points. The heightened volatility saw the trading volume jump to 20,69,104 shares. Company has a market cap of $4,087 M.
In a different news, on Aug 3, 2016, James Savarese (Chief Operating Officer) sold 500 shares at $46.14 per share price. According to the SEC, on Aug 3, 2016, Steven Conine (Co-Founder) sold 12,000 shares at $44.50 per share price. On Aug 3, 2016, Edmond Macri (Chief Product/Marketing) sold 600 shares at $44.50 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.