Shares of home-focused e-commerce platforms operator Wayfair (NYSE:W) are up in double digits today after it delivered better than expected second quarter numbers on the top line as well as bottom line fronts. While revenue declined 3.4% year-over-year to $3.17 billion, the figure still landed better than estimates by $70 million.
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Further, EPS at $0.21 too outperformed expectations by $0.94. While the number of active customers decreased by 7.6% over the year-ago period to 21.8 million, the LTM revenue per active customer inched up by 1.5% to $545 as of June 30. Additionally, the number of orders placed by repeat customers rose by 6.4% over the prior year to 8.3 million.
Impressively, the company has achieved positive year-over-year order growth, positive adjusted EBITDA, and positive free cash flow in the second quarter. Investors are cheering this robust performance, and the stock is up a massive 20% at the time of writing today.
Overall, the Street has a $62.43 consensus price target on Wayfair alongside a Moderate Buy consensus rating. Shares of the company have now surged nearly 167% so far this year.
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