In a report released today, Jonathan Matuszewski from Jefferies upgraded Wayfair (W – Research Report) to a Buy, with a price target of $47.00.
Jonathan Matuszewski has given his Buy rating due to a combination of factors that highlight Wayfair’s potential for growth and market strength. The company is experiencing significant market share gains, which are not fully appreciated by the market, and its new paid loyalty program is expected to increase order frequency and customer engagement. Additionally, Wayfair’s expansion into physical retail is proving more effective than anticipated, creating a positive impact on its e-commerce operations.
Moreover, Wayfair’s stock is trading at a discount compared to its peers, despite its impressive EBITDA growth projections. The company’s B2B segment is also gaining traction, providing a buffer against potential consumer demand fluctuations. Furthermore, the introduction of sponsored advertising offers additional protection for EBITDA margins, even in the face of housing market uncertainties. These elements collectively contribute to the optimistic outlook for Wayfair’s stock performance.
In another report released on February 23, Truist Financial also maintained a Buy rating on the stock with a $53.00 price target.
Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of W in relation to earlier this year.