Jefferies analyst Jonathan Matuszewski initiated coverage of Wayfair with a Buy rating and $192 price target. The 40B customer interactions flowing between Wayfair's marketplace and logistics network let the company capitalize on an "attractive" home category, Matuszewski tells investors in a research note. The analyst expects the company's ongoing leverage to materialize from productive adverting technology, and he notes that his survey indicates "more viral social media usage could be powerful." His bull case shows 50% upside in shares of Wayfair.

Bullish option flow detected in Wayfair with 10,218 calls trading, 1.2x expected, and implied vol increasing almost 4 points to 81.40%. May-24 60 puts and Sep-24 60 calls are the most active options, with total volume in those strikes near 3,800 contracts. The Put/Call Ratio is 0.64. Earnings are expected on May 2nd.

TD Cowen raised the firm's price target on Wayfair to $55 from $50 and keeps a Hold rating on the shares. The firm said they expect the company to report revenue and EBITDA slightly below current consensus estimates when it reports earnings.