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Benzinga
Benzinga
Business
Shivani Kumaresan

Needham Cuts Wayfair Price Target By 17%

Wayfair Needham Anna Andreeva Barclays NYSE Wayfair Inc
  • Needham analyst Anna Andreeva lowered the price target on Wayfair Inc (NYSE:W) to $150 from $180 and maintained a Buy rating on the shares, implying a 37% upside.
  • The analyst noted that the company's near-term trends remain under pressure amidst a volatile macro backdrop.
  • Andreeva specified that Wayfair has a 2.4% penetration in its largest market, the U.S., which has a home goods market potential of $460 billion.
  • Barclays analyst Adrienne Yih downgraded the company from Equal-Weight to Underweight, with a price target of $103, implying a 6% downside.
  • Price Action: W shares are trading lower by 0.75% at $109.95 on the last check Friday.
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