Online home goods retailer Wayfair (NYSE: W) will be reporting earnings this Thursday before market open. Here’s what you need to know.
Wayfair beat analysts’ revenue expectations last quarter, reporting revenues of $3.34 billion, up 6.9% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a narrow beat of analysts’ revenue estimates. It reported 21 million active buyers, down 1.9% year on year.
Is Wayfair a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Wayfair’s revenue to grow 5.8% year on year, improving from its flat revenue in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Wayfair rarely misses Wall Street’s revenue estimates.
Looking at Wayfair’s peers in the consumer internet segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Booking delivered year-on-year revenue growth of 16.2%, meeting analysts’ expectations, and Coursera reported revenues up 9.1%, in line with consensus estimates. Coursera traded down 11.6% following the results.
Read our full analysis of Booking’s results here and Coursera’s results here.
There has been positive sentiment among investors in the consumer internet segment, with share prices up 16.2% on average over the last month. Wayfair is up 5.5% during the same time and is heading into earnings with an average analyst price target of $104.93 (compared to the current share price of $73.37).
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