Williams-Sonoma (WSM Quick QuoteWSM - Free Report) , the $12 billion home decor and furniture retailer, was a Bull of the Day feature back in September after reporting another strong quarter of growth.

Here's what my colleague Maddy Johnson wrote...

Back in August, Williams-Sonoma crushed expectations for its fiscal second quarter.

Adjusted earnings per share came in at $3.24 while revenue hit $1.96 billion, up 30.7% year-over-year, easily beating top and bottom-line estimates.

Impressively, e-commerce now makes up 65% of the company’s total revenue.

Total comparable sales rose nearly 30% compared to the prior-year period. West Elm was a stand out once again, reporting comps growth of 51.1%; Pottery Barn saw comps rise 29.6% as well.

(end of excerpt from Maddy's report)

Maddy also noted that WSM shares near $190 at the time were up 88% for the year.

Well, the stock went on to make new all-time highs above $220 in November ahead of their Q3 report on the 18th. That quarterly summary and improved outlook also impressed Wall Street, but possibly not enough after ascending 120% for the year.

And like Icarus flying too close to the sun, something melted and shares fell back to $160.

But I'm here to tell you that WSM is a Zacks #1 Rank again because analysts keep raising earnings estimates.

Since that report, the full-year fiscal 2022 (ends January) EPS consensus rose from $13.57 to $14.15.

And next year was bumped from $12.98 to $13.89. Therein might be part of the problem as analysts see flat to down earnings growth next year.

At least that's their visibility until the company provides fresh guidance in their Q4 report.

This lack of clarity is also evident in revenue forecasts. After a strong 22% surge to $8.3 billion this year, the topline is currently only forecast to nudge up 1.6% to $8.43B for most of 2022 and next year's holiday season.

The stock appears to be a bargain here given the strong economy and consumer, and investors should feel confident starting new positions.