Wayfair Inc (W) Receives a Rating Update from a Top Analyst

By Ryan Adsit

In a report released today, Scott Devitt from Stifel Nicolaus maintained a Buy rating on Wayfair Inc (WResearch Report), with a price target of $150. The company’s shares closed last Monday at $115.09.

Devitt said:

“We believe Wayfair’s overall results are complicated by very heavy investment in its international operations overshadowing the beginnings of a positive profit ramp in the U.S. business. In 2019, we forecast U.S. EBITDA margin of -1.1% and International EBITDA margin of -22.4%. For 2020, our margin estimates are +0.5% and -15.1%, respectively. International accounts for approximately 15% of total company revenue.”

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 20.7% and a 68.3% success rate. Devitt covers the Technology sector, focusing on stocks such as Uber Technologies Inc, Jumia Technologies AG, and Eventbrite Inc.

Wayfair Inc has an analyst consensus of Moderate Buy, with a price target consensus of $160.20, which is a 40.7% upside from current levels. In a report issued on August 8, Canaccord Genuity also reiterated a Buy rating on the stock with a $175 price target.

See today’s analyst top recommended stocks >>

Based on Wayfair Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $182 million. In comparison, last year the company had a GAAP net loss of $101 million.

Based on the recent corporate insider activity of 243 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Wayfair, Inc. engages in an online home furnishing store. It offers a selection of home furnishings and decor across all styles and price points. It operates through the U.S. and International segments.