In a report released today, John Blackledge from TD Cowen maintained a Hold rating on Wayfair, with a price target of $68.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
John Blackledge’s rating is based on Wayfair’s recent financial performance and future outlook. The company’s second-quarter revenue exceeded expectations, driven by stable pricing and increased market share, despite challenges such as tariff volatility and macroeconomic uncertainty. Additionally, Wayfair’s advertising efficiency contributed to better-than-expected EBITDA margins, which were significantly higher than both the company’s guidance and consensus estimates.
Despite these positive results, Blackledge maintains a Hold rating due to the anticipated modest growth in the upcoming quarter. Management projects revenue growth in the low- to mid-single digits and EBITDA margins in the 5-6% range, which suggests a steady but not exceptional performance. The increase in the price target to $68 reflects the improved long-term estimates, but the Hold rating indicates a cautious stance given the current market conditions and international challenges.
In another report released today, Bank of America Securities also maintained a Hold rating on the stock with a $72.00 price target.