JPMorgan analyst Christopher Horvers lowered the firm's price target on Wayfair to $66 from $96 and keeps a Neutral rating on the shares. The company's path to profitability "remains elusive," for now, as growth and profit metrics are expected to get worse before getting better, Horvers tells investors in a research note following the company's Q4 results. Wayfair's 2020 will be a back-half weighted transition year with its longer-term share of the total addressable market, ability to drive repeat spending, and structural profitability "in question," adds the analyst.

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.