UPDATE: Piper Sandler Downgrades Wayfair (W) to Neutral

May 5, 2022 5:03 PM EDT
Get Alerts W Hot Sheet
Price: $45.32 +4.04%

Rating Summary:
    18 Buy, 16 Hold, 10 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 1 | Down: 0 | New: 0
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(Updated - May 6, 2022 6:20 AM EDT)

Piper Sandler analyst Peter Keith downgraded Wayfair (NYSE: W) from Overweight to Neutral with a price target of $65.00 (from $200.00).

The analyst comments "Downgrading W to Neutral, lowering our PT to $65. While we acknowledge tardiness to the rating change (shares -64% YTD), we can no longer defend shares due to the following: (1) Sales outlook and market share dynamics uncertain; (2) EBITDA losses for 2022 could be meaningful; (3) Negative FCF for 2022 looks likely as CapEx steps up."

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 $90.76 yesterday.


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Analyst Comments, Analyst PT Change, Downgrades