Information Provided By:
Fly News Breaks for May 2, 2018
W
May 2, 2018 | 13:50 EDT
As previously reported, BofA Merrill Lynch analyst Akshay Bhatia upgraded Wayfair to Buy from Neutral after the company reported "solid" direct retail revenue, driven by stronger active customer and orders per customer growth than expected, and gave Q2 revenue guidance that points to an acceleration from Q1. The company added 805,000 customers in Q1, topping his estimate, while orders delivered growth and the repeat order rate both accelerated, noted Bhatia. The analyst thinks the report highlight that the company has built solid scale in the industry and competition will have a harder time "knocking Wayfair off its perch" in the furniture and home goods category. Bhatia raised the price target on Wayfair shares to $95 from $90.
News For W From the Last 2 Days
W
Mar 27, 2024 | 17:19 EDT
Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSRH... To see the rest of the story go to thefly.com. See Story Here