Wayfair Q3 Results: Earnings Beat Street, But Sales And Customer Base Decline
Portfolio Pulse from Nabaparna Bhattacharya
Wayfair's Q3 results show an earnings beat but a decline in sales and customer base. Despite adjusted earnings per share of 22 cents surpassing expectations, shares fell due to a 2% sales decline and a decrease in active customers. Analyst maintains a Buy rating with a $60 price target.
November 01, 2024 | 3:24 pm
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Wayfair reported Q3 earnings that beat expectations, but sales and active customers declined. Despite the earnings beat, shares fell 2.6% as investors reacted to the sales decline and customer base reduction. An analyst reiterated a Buy rating with a $60 price target.
Wayfair's earnings per share exceeded expectations, but the decline in sales and active customers likely led to the stock's drop. The market may be concerned about the company's ability to grow its customer base and sales. The analyst's Buy rating and $60 price target suggest confidence in future performance, but short-term sentiment is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100