The bear parade continued, with several more analysts cutting their price targets on the shares. This followed last week's disappointing second-quarter earnings report.
Wayfair remains a buy due to its positive long-term growth outlook and strong competitive advantage. 2Q24 results showed revenue decline and missed EBITDA estimates, but W continues to gain market share. Near-term EBITDA margin expansion may be muted, but long-term growth and margin expansion drivers remain intact.
Wayfair's (W) second-quarter 2024 results reflect sluggishness across the United States region and lower net revenues per active customer.
Wayfair Inc. W shares are trading lower on Friday.
Amid the turbulence in the consumer and retail sector, Wayfair Inc. W has been making headlines for its recent dip in stock performance.
People aren't buying furniture to a degree that hasn't been felt since the Great Recession of 2008, according to Wayfair's (W) CEO.
Wayfair's shares are plunging after its chief executive said on an earnings call that demand for household goods is at the level of the “financial crisis.”
Wayfair Inc. (W) Q2 2024 Earnings Call Transcript
Wayfair saw its quarterly sales dip amid continued pressure on home goods consumers.
Although the revenue and EPS for Wayfair (W) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Wayfair (W) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.50 per share. This compares to earnings of $0.21 per share a year ago.
Wayfair Inc. W shares are down 4.9% premarket after the online furniture retailer reported worse-than-expected second-quarter results amid continued macro headwinds. The company reported a net loss of $42 million, or a loss of 34 cents a share, after a loss of $46 million, or a loss of 41 cents a share, in the prior year's quarter.