Stifel analyst Scott Devitt lowered the firm's price target on Wayfair to $80 from $100 and maintained a Buy rating on the shares after the company's Q4 results, which were "generally in line" with the Street's forecast and his estimates. Devitt noted, however, that the company's Q1 revenue guidance was "significantly" below the Street's forecast. The analyst said that while the company does not anticipate a significant impact from the coronavirus outbreak, he expects some level of supply-related constraints to emerge, given the company's exposure to China. Devitt added that he is encouraged by management's emphasis on cutting costs in 2020, though he acknowledges near-term friction as the marketing pullback weighs on growth.

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.