2022-11-30 08:47:38 W Wayfair
11/30/22 11/3008:47 11/30/2208:47 | Wayfair five-day holiday sales report implies upside to consensus, says StephensStephens analyst Nicholas Zangler noted that Wayfair reported flat total company sales over the five-day period between Thanksgiving and Cyber Monday and given quarter-to-date performance and "conservatively assuming" a 10% year-over-year decline in December reflective of current performance during non-promotional periods, he believes a 6% revenue decline is "achievable," which would beat the consensus forecast for an 8.3% decline. The analyst, who awaits a return to revenue growth and execution of expense initiatives to become constructive on the stock, maintains an Equal Weight rating and $45 price target on Wayfair shares. |
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