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W

Wayfair

$132.00

8.37 (6.77%)

08:05
09/12/19
09/12
08:05
09/12/19
08:05

Wayfair app downloads and engagement levels improving, says Jefferies

Jefferies analyst Jonathan Matuszewski says his review of Wayfair's app downloads, engagement levels, and review sentiment show improvement since July. This is encouraging since the company's app design changes was one culprit of softer trends and because app users are three-times more valuable, Matuszewski tells investors in a research note. He believes that with Wayfair's fiscal 2020 enterprise value to sales multiple back to January levels, the market is not appreciating its total addressable market and "sustainable" U.S. profitability ahead. These warrant a premium multiple, says Matuszewski, who reiterates a Buy rating on the shares with a $188 price target.

W Wayfair
$132.00

8.37 (6.77%)

08/21/19
STFL
08/21/19
UPGRADE
Target $150
STFL
Buy
Wayfair upgraded to Buy from Hold at Stifel
Stifel analyst Scott Devitt upgraded Wayfair to Buy with an unchanged price target of $150, saying the 12% decline in the stock price since the company's posted its Q2 results has created a compelling entry point. The analyst notes that the quarter was "complicated by very heavy investment in its international operations", which overshadowed the start of a positive profit ramp in its U.S. business. Devitt adds that on a stand-alone basis, Wayfair's U.S. business now trades at a 25% discount to the company's eCommerce peers.
08/22/19
08/22/19
UPGRADE

Fly Intel: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Target (TGT) upgraded to Buy from Neutral at Citi with analyst Paul Lejuez saying he wants to catch the next 20% move up, which he believes will occur as the company continues to prove it is a "winner" in the current retail landscape. 2. Wayfair (W) upgraded to Buy from Hold at Stifel with analyst Scott Devitt saying the 12% decline in the stock price since the company's posted its Q2 results has created a compelling entry point. 3. Energizer (ENR) upgraded to Buy from Neutral at UBS with analyst Steven Strycula saying the stock has lost 45% of its market cap as a result of the initial integration challenges and higher leverage, but contends that at 9.5-times expected forward EBITDA, he sees the "bear case" being priced in. 4. Etsy (ETSY) upgraded to Buy from Hold at Stifel with analyst Scott Devitt saying the 20% decline in the stock price since the company's last earnings report has made its valuation more compelling. 5. Cerner (CERN) upgraded to Buy from Hold at Argus with analyst Jasper Hellweg saying the company is well positioned for growth having just completed its "self-described 'investment year'." This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/03/19
GSCO
09/03/19
INITIATION
Target $145
GSCO
Buy
Wayfair initiated with a Buy at Goldman Sachs
Goldman Sachs analyst Heath Terry initiated Wayfair with a Buy rating and a price target of $145, saying the company is a leader in the online movement of household goods as it used its technology and scale to build a "destination" for furniture and home goods shopping over the past 16 years. The analyst further notes that the $300B U.S. home category is underpenetrated with just under 13% of sales online because of higher price points, risk of damage, and potentially expensive delivery, but believes that the company is successful with its merchandising, breadth and depth of suppl.
09/03/19
09/03/19
INITIATION

Fly Intel: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Wayfair (W) initiated with a Buy at Goldman Sachs. 2. Square (SQ) initiated with an Underweight at Atlantic Equities. 3. InMode (INMD) initiated with an Outperform at Baird, an Overweight at Barclays, and a Buy at Canaccord and UBS. 4. Sanofi (SNY) initiated with an Outperform at Bernstein. 5. RealReal (REAL) initiated with an Outperform at Wells Fargo. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

XLNX

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$52.06

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Upgrade
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LMAT

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WE

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KOD

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ADVM

Adverum Biotechnologies

$5.29

0.11 (2.12%)

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ADVM

Adverum Biotechnologies

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COP

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T

AT&T

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0.17 (0.45%)

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KBH

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GOOG

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SPX

S&P 500

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AGN

Allergan

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LYFT

Lyft

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GM

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MRK

Merck

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Johnson & Johnson

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Merck

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Johnson & Johnson

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HMTV

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PFE

Pfizer

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CNCE

Concert Pharmaceuticals

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(0.00%)

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INCY

Incyte

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0.38 (0.50%)

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