Wayfair (W - Free Report) shares ended the last trading session 10.3% higher at $56.13. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 25.3% loss over the past four weeks.
Wayfair extended its rally, driven by its latest workforce reduction step. The company announced that it would be cutting 1,650 jobs which represent 13% of its global workforce and 19% of its corporate team as of Dec 31, 2023.
This online home goods retailer is expected to post quarterly loss of $0.27 per share in its upcoming report, which represents a year-over-year change of +84.2%. Revenues are expected to be $3.14 billion, up 1.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Wayfair, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on W going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Wayfair is part of the Zacks Internet - Commerce industry. MYT Netherlands Parent B.V. Sponsored ADR (MYTE - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $2.99. MYTE has returned -6% in the past month.
For MYT Netherlands Parent B.V. Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.04. This represents a change of -69.2% from what the company reported a year ago. MYT Netherlands Parent B.V. Sponsored ADR currently has a Zacks Rank of #3 (Hold).
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Wayfair (W - Free Report) shares ended the last trading session 10.3% higher at $56.13. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 25.3% loss over the past four weeks.
Wayfair extended its rally, driven by its latest workforce reduction step. The company announced that it would be cutting 1,650 jobs which represent 13% of its global workforce and 19% of its corporate team as of Dec 31, 2023.
This online home goods retailer is expected to post quarterly loss of $0.27 per share in its upcoming report, which represents a year-over-year change of +84.2%. Revenues are expected to be $3.14 billion, up 1.1% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Wayfair, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on W going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Wayfair is part of the Zacks Internet - Commerce industry. MYT Netherlands Parent B.V. Sponsored ADR (MYTE - Free Report) , another stock in the same industry, closed the last trading session 1% higher at $2.99. MYTE has returned -6% in the past month.
For MYT Netherlands Parent B.V. Sponsored ADR, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.04. This represents a change of -69.2% from what the company reported a year ago. MYT Netherlands Parent B.V. Sponsored ADR currently has a Zacks Rank of #3 (Hold).
Top 5 ChatGPT Stocks Revealed
Zacks Senior Stock Strategist, Kevin Cook names 5 hand-picked stocks with sky-high growth potential in a brilliant sector of Artificial Intelligence. By 2030, the AI industry is predicted to have an internet and iPhone-scale economic impact of $15.7 Trillion.
Today you can invest in the wave of the future, an automation that answers follow-up questions … admits mistakes … challenges incorrect premises … rejects inappropriate requests. As one of the selected companies puts it, “Automation frees people from the mundane so they can accomplish the miraculous.”
Download Free ChatGPT Stock Report Right Now >>
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