Wayfair Inc. (W - Free Report) is one of the world’s leading online sellers of home goods products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on W’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Wayfair could be a solid choice for investors.
Current Quarter Estimates for W
In the past 30 days, 12 estimates have gone higher for Wayfair while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates moving from a loss of $1.80 a share 30 days ago, to earnings of 82 cents today, a significant move.
Current Year Estimates for W
Meanwhile, Wayfair’s current year figures are also looking quite promising, with 14 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, narrowing from a loss of $8.89 per share 30 days ago to a loss of $4.90 per share today, an increase of 44.9% .
The stock has also started to move higher lately, adding 107.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank stocks here.
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