Back to top
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Wayfair Inc. (W) - free report >>
MYT Netherlands Parent B.V. Sponsored ADR (MYTE) - free report >>
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Wayfair Inc. (W) - free report >>
MYT Netherlands Parent B.V. Sponsored ADR (MYTE) - free report >>
Image: Bigstock
Wayfair (W) Soars 10.3%: Is Further Upside Left in the Stock?
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).