Wayfair Analyst Turns Bullish On E-Commerce Stock: 'On The Cusp Of Driving Sustained EBITDA Profitability'

Shares of Wayfair Inc W were spiking in early trading on Monday.

The company’s sales and share gains are improving, according to Piper Sandler.

The Wayfair Analyst: Peter Keith upgraded the rating for Wayfair from Neutral to Overweight, while raising the price target from $35 to $97.

The Wayfair Thesis: With the home furnishings industry stabilizing, the company is back to taking market share and its sales are improving, Keith said in the upgrade note.

Check out other analyst stock ratings.

“Supplier feedback on Wayfair following the company's Supplier Summit in June has become the most positive in >2 years,” the analyst wrote. “Importantly, suppliers now seem more confident in leaning into Wayfair's supplier services (CastleGate, advertising, etc.), which is important for ongoing gross margin expansion,” he added.

“Wayfair is on the cusp of driving sustained EBITDA profitability, and we expect the company's Investor Day on August 10th will provide investors with greater long-term confidence on profitability outlook,” Keith further stated.

W Price Action: Shares of Wayfair had risen by 4.6% to $76.42 at the time of publication Monday.

Now Read: Newly Leaked Guidelines Unveil More Details Regarding Amazon's 'Voluntary Resignation' Program

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Posted In: Analyst ColorUpgradesPrice TargetAnalyst RatingsMoversTrading IdeasExpert IdeasPeter KeithPiper Sandler
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