- Jefferies analyst Jonathan Matuszewski downgraded Wayfair Inc W to Hold from Buy with a price target of $225, down from $330.
- Web traffic for Q3 ended weak, and Q4 started slow, and Matuszewski feels Street estimates for the second half of the year are too high against a backdrop of supply chain disarray.
- Though shares are more than 30% off highs, he contends that Wayfair shares are yet to price in soft data.
- Wayfair engages in e-commerce in the U.S. and Europe. The company's Q2 FY21 revenue of $3.86 billion missed the consensus of $3.96 billion. EPS of $1.89 beat the consensus of $1.17. Active customers rose 19.6% Y/Y to 31.1 million.
- Price Action: W shares traded lower by 3.73% at $225.54 on the last check Wednesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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