- Jefferies analyst Jonathan Matuszewski lowered the price target on Wayfair Inc W to $149 from $247, implying a 1% upside, and kept a Hold rating on the shares.
- The move comes after Matuszewski's web traffic review that led him to cut his Q4 sales forecast by about 3%.
- The analyst now sees an EBITDA loss versus a profit given his finding of more new versus existing visitors, which should hit ad expenses.
- He is also revisiting the stock's valuation, given his expectation for "more sober" 2022 guidance that he sees forthcoming from Wayfair.
- Price Action: W shares are trading higher by 1.24% at $147.53 on the last check Monday.
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