Wayfair (NYSE:W) gained in trading after reporting a narrower-than-expected loss in the fourth quarter. The online furniture and home goods company reported an adjusted loss of $0.11 per share compared to a loss of $1.71 per share in the same period last year. Analysts expected the company to report a loss of $0.15 per share.
Wayfair’s revenues declined by 1.8% year-over-year to $3.11 billion, in line with analysts’ estimates. Still, it had 22.4 million active customers, a 1.4% year-over-year increase. The firm’s last twelve months (LTM) net revenue per active customer was $537 as of December 31, 2023, a decrease of 3% year-over-year.
Is Wayfair Stock a Good Buy?
Analysts remain cautiously optimistic about Wayfair stock with a Moderate Buy consensus rating based on 12 Buys and 10 Holds. Year-to-date, Wayfair stock has dropped by more than 15%, and the average W price target of $69.38 implies an upside potential of 42.2% at current levels. However, it is important to note that the analyst ratings will likely change in reaction to W’s earnings.
