Truist Securities Maintains Buy Rating for Wayfair: Here's What You Need To Know

Truist Securities has decided to maintain its Buy rating of Wayfair W and raise its price target from $52.00 to $53.00.

Shares of Wayfair are trading down 0.51% over the last 24 hours, at $34.88 per share.

A move to $53.00 would account for a 51.95% increase from the current share price.

About Wayfair

Wayfair engages in e-commerce in the United States and Europe. At the end of 2022, the firm offered more than 40 million products from more than 20,000 suppliers for the home sector under the brands Wayfair, Joss & Main, AllModern, DwellStudio, Birch Lane, and Perigold. This includes a selection of furniture, decor, decorative accent, housewares, seasonal decor, and other home goods. Wayfair was founded in 2002 and is focused on helping people find the perfect product at the right price.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.