Wayfair Inc. (W) saw its stock price surge 7.91% during intraday trading on Friday. The significant upward movement follows the release of the company's fourth-quarter financial results.
According to analyst reports, Wayfair's Q4 performance slightly exceeded revenue estimates, prompting a wave of rating and price target adjustments from Wall Street firms. While several analysts, including those from Goldman Sachs, Wedbush, Stifel, TD Cowen, Jefferies, and Baird, lowered their price targets, others maintained positive ratings. Barclays and Truist Financial kept their Buy ratings on the shares.
The collective analyst action indicates a market reassessment following the earnings report, with the stock's sharp rise suggesting investor relief or optimism that the results were better than feared. FactSet data shows analysts maintain an average overweight rating on Wayfair with a mean price target of $106.63.
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