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Wayfair Inc (NYSE: W) Jumps 4.61% In Recent Trade, What Does The Future Hold?

Wayfair Inc (NYSE:W) price is hovering higher on Monday, November 20, jumping 4.61% above its previous close.

A look at today’s price movement shows that the recent level at last check reads $47.16, with intraday deals fluctuating between $45.93 and $47.58. The company’s 5Y monthly beta was ticking 3.20. Taking into account the 52-week price action we note that the stock hit a 52-week high of $90.71 and 52-week low of $29.51. The stock added 12.45% on its value in the past month.

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Wayfair Inc, which has a market valuation of $5.82 billion, is expected to release its quarterly earnings report Nov 01, 2023. Analysts tracking W have forecast the quarterly EPS to shrink by -0.16 per share this quarter, while the same analysts predict the annual EPS to hit -$1.18 for the year 2023 and up to $0.09 for 2024. In this case, analysts estimate an annual EPS growth of 84.70% for the year and 107.60% for the next year.

On average, analysts have forecast the company’s revenue for the quarter will hit $3.15 billion, with the likely lows of $3.09 billion and highs of $3.19 billion. The average estimate suggests sales growth for the quarter will likely rise by 1.50% when compared to those recorded in the same quarter in the last financial year. Staying with the analyst view, there is a consensus estimate of $12.03 billion for the company’s annual revenue in 2023. Per this projection, the revenue is forecast to grow -1.50% below that which the company brought in 2023.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give W a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as 50% Sell.

The overview shows that W’s price is at present 11.62% off the SMA20 and -6.13% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 54.20, with weekly volatility standing at 5.52%. The indicator jumps to 6.32% when calculated based on the past 30 days. Wayfair Inc (NYSE:W)’s beta value is holding at 3.15, while the average true range (ATR) indicator is currently reading 3.12.

Turning out attention to how the Wayfair Inc stock has performed in comparison to its peers in the industry, here’s what we find: W’s stock is 4.61% on the day and 44.67% in the past 12 months. Turning out attention to how the Wayfair Inc stock has performed in comparison to its peers in the industry, here’s what we find: W’s stock is 4.61% on the day and 44.67% in the past 12 months. Elsewhere in the market, the S&P 500 Index has rallied 0.28% in today’s early trading, with the Dow Jones Industrial also seeing a positive session on the day with 0.22%.

An analysis of the Wayfair Inc (NYSE:W) stock in terms of its daily trading volume indicates that the 3-month average is 3.60 million. However, this figure increases on the past 10-day timeline to an average of 4.38 million.

Current records show that the company has 117.95M in outstanding shares. The insiders’ percentage holdings are 29.52% of outstanding shares while the percentage share held by institutions stands at 87.44%. The stats also highlight that short interest as of Oct 30, 2023, stood at 22.39 million shares, which puts the short ratio at the time at 6.05. From this we can glean that short interest is 18.99% of company’s current outstanding shares. Notably, we see that shares short in October fall slightly given the previous month’s figure stood at 23.37 million. But the 49.99% upside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.