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W

Wayfair

$96.65

-0.12 (-0.12%)

11:20
01/10/20
01/10
11:20
01/10/20
11:20

In-the-money put Buyer in Wayfair building position

In-the-money put Buyer in Wayfair building position. Initiator bought 3300 Mar 20th 100 Puts for $12.50 this morning, opening, as shares traded near $96.45. Premium total is $4.1M and the flow appears to add to similar buying on Wednesday from $12.25 to 12.50 as shares traded about $1 lower.

W Wayfair
$96.65

-0.12 (-0.12%)

12/12/19
STFL
12/12/19
NO CHANGE
STFL
Stifel lays out 'path to profits' for Peloton, Lyft, Uber, RealReal and Wayfair
Stifel analyst Scott Devitt said that "in the heat of the recent IPO cycle" investors had been focused on growth at all costs, but now the market pendulum has swung to "demand a clear path to profits for consumer internet companies." In his note to investors, Devitt laid out the "path to profits" he sees for the five recent IPOs that are caught in the "current storm" that he currently recommends with Buy ratings: Peloton (PTON), Lyft (LYFT), Uber (UBER), The RealReal (REAL), and Wayfair (W). On Peloton, he said he is bullish on the margin upside opportunity and the company's ability to achieve its FY24 EBITDA margin target due to underlying core profitability in U.S. Bikes, its rapid subscriber growth, and the company's "healthy" subscription unit economics. On Lyft, Devitt cited rapidly improving fundamentals and a more disciplined environment as reasons he is comfortable with the margin opportunity and the company's ability to achieve its 4Q:21 adjusted EBITDA profitability target. On Uber, he sees the path to profitability supported by modest expansion of Rides margin from the current 5% level along with some take rate improvement and efficiencies in sales and marketing. For RealReal, Devitt expects the company to modestly reduce inbound process costs through technology innovation and believes a long-term mid-20% adjusted EBITDA margin target "is attainable." On Wayfair, Devitt is comfortable with the company's 8%-10% adjusted EBITDA margin long-term target, but he is taking a more conservative approach to his margin trajectory and reduced his price target to $110 from $120. The analyst now expects breakeven for Wayfair in 2023.
12/13/19
RHCO
12/13/19
INITIATION
Target $95
RHCO
Hold
Wayfair initiated with a Hold at SunTrust
SunTrust analyst Naved Khan initiated coverage of Wayfair with a Hold rating and $95 price target.
12/13/19
RHCO
12/13/19
INITIATION
Target $95
RHCO
Hold
Wayfair initiated with a Hold at SunTrust
SunTrust analyst Naved Khan initiated coverage of Wayfair with a Hold rating and $95 price target. The analyst notes that the company has emerged as a leading player in home furnishings with its large selection of products on its marketplaces and its "aggressive investment" in developing its logistics network, supporting its "competitive moat" relative to other players. Khan adds however that while Wayfair's "sizeable" $600B total addressable market amid the ongoing "secular shift" to online shopping offers a positive backdrop, the near-term risk of its exposure to China tariffs keeps him on the sidelines.
01/09/20
PIPR
01/09/20
NO CHANGE
Target $130
PIPR
Overweight
Wayfair risk/reward 'heavily skewed to the upside,' says Piper Sandler
Wayfair's 2020 appears to be setting up much like 2017 in which the company will move to "digestion mode" and should see margin improvement across the income statement, Piper Sandler analyst Peter Keith tells investors in a research note. The analyst notes the shares were up over 100% in 2017. With capital expenditures in 2020 poised to come down sequentially from 2019, a capital raise in 2020 now seems "highly unlikely," adds the analyst. As a result, Keith thinks Wayfair's risk/reward going into 2020 "looks heavily skewed to the upside." He keeps an Overweight rating on the shares with a $130 price target.

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FB

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$222.01

0.23 (0.10%)

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$331.98

1.08 (0.33%)

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