Analyst Ygal Arounian from Citi maintained a Buy rating on Wayfair and keeping the price target at $105.00.
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Ygal Arounian has given his Buy rating due to a combination of factors that highlight Wayfair’s strong financial performance and strategic positioning. The company reported impressive third-quarter results, with revenue growth of 8.1% year-over-year, and even higher growth of 9.0% when excluding Germany. This demonstrates Wayfair’s ability to capture market share and exceed market expectations.
Additionally, Wayfair’s adjusted EBITDA and free cash flow surpassed expectations, indicating effective cost management and operational efficiency. Despite a slight decline in active customers, the number of orders delivered increased by 5.4% year-over-year, showcasing robust demand. These positive financial metrics, alongside the potential for continued strength in top-line trends, underpin Arounian’s optimistic outlook on Wayfair’s stock.
In another report released yesterday, J.P. Morgan also maintained a Buy rating on the stock with a $105.00 price target.
Based on the recent corporate insider activity of 74 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.