Why Wayfair's Stock Is Trading Lower Wednesday

Wayfair Inc W shares are trading lower by 3.2% at $288.80 Wednesday afternoon after Citigroup maintained a Sell rating on the stock and lowered its price target from $250 to $225.

On August 5th, Wayfair reported second-quarter earnings of $1.89 per share which beat the analyst consensus estimate of $1.17. Wayfair reported quarterly sales of $3.86 billion which missed the analyst consensus estimate of $3.96 billion.

Wayfair engages in e-commerce in the United States and Europe. As of June 30, 2021, the firm offered approximately 22 million products from more than 16,000 suppliers for the home sector under the brands Wayfair, Joss & Main, AllModern, DwellStudio, Birch Lane and Perigold. 

Wayfair has a 52-week high of $369 and a 52-week low of $221.09.