RBC Capital Sees Wayfair (W) Having a Challenging Setup into the Quarter, Estimates Cut

RBC Capital analyst Steven Shemesh reiterated a Sector Perform rating and $137.00 price target on Wayfair (NYSE: W) suggesting investors stay on the sidelines into the quarter while cutting sales and profit projections. Sales and EBITDA projections for 1Q drop to $2.96B (cons. $2.98B) and -$77M from $3.10B and -$68M.

The analyst stated "Our revised sales estimate represents a 15% Y/Y decline, which as a reminder compares to management’s comments that consolidated gross revenues were trending down low-teens QTD through 2/24. While delayed shipments will likely somewhat buoy results, home furnishing peers have cited a slowdown in consumer demand in March/April. We believe Wayfair has one of the more challenging setups within our coverage universe as they both operate in more discretionary categories and are low/no profit."

For an analyst ratings summary and ratings history on Wayfair click here. For more ratings news on Wayfair click here.

Shares of Wayfair closed at $87.39 yesterday.

You May Also Be Interested In

• Coherent (COHR) PT Raised to $420 at Needham
• BitGo Holdings (BTGO) PT Lowered to $10 at Rosenblatt
• Needham Reiterates Hold Rating on CoreWeave (CRWV)