Why Wayfair Inc. Stock Plunged Today
Shares of Wayfair (NYSE: W) plunged on Thursday morning, following the release of a disappointing third-quarter report. The online retailer's share prices bottomed out at 9:40 a.m. EDT, diving 24% below Wednesday's closing prices. Two hours later, the stock had recovered to a still-terrible 19% drop.
Wayfair's Q3 sales rose 39% year over year, landing at $1.2 billion and right in line with Wall Street's projections. On the bottom line, adjusted net losses per expanded from $0.54 to $0.65. Analysts had been looking for a smaller $0.46 loss per share. The main culprit behind the surprisingly large net loss was a 40% larger advertising budget.
Image source: Wayfair.
Source: Fool.com
Wayfair Inc. Stock
€92.24
1.150%
The stock is an absolute favorite of our community with 40 Buy predictions and no Sell predictions.
With a target price of 102 € there is a slightly positive potential of 10.58% for Wayfair Inc. compared to the current price of 92.24 €.
