Wayfair Announces Second Quarter 2017 Results
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August 8, 2017 1:20 PM EDT
Baird raised its price target on Wayfair (NYSE: W) to $73.00 (from $65.00) while maintaining a Neutral rating following solid Q2 results due to healthy market share gains.
"While expense timing helped Q2/hurt Q3 margins, we are increasing our 2017/2018 revenue estimates, and correspondingly our price target to $73," analyst Colin Sebastian said.
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August 8, 2017 7:01 AM EDT
Wayfair (NYSE: W) reported Q2 EPS of ($0.26), $0.20 better than the analyst estimate of ($0.46). Revenue for the quarter came in at $1.1 billion versus the consensus estimate of $1.06 billion.
Direct Retail net revenue, consisting of sales generated primarily through Wayfairs sites, increased $346.8 million to $1.1 billion, up 45.9% year over yearTotal net revenue increased $335.9 million to $1.1 billion, up 42.7% year over yearGross profit was $269.5 million or 24.0% of total net revenueGAAP net loss was $38.9 millionAdjusted EBITDA was $(2.2) million or (0.2)% of total...
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