Wayfair Inc W:NYSE

Last Price$50.81NYSE Previous Close - Last Trade as of 7:00PM ET 5/16/22

Today's Change-6.52(11.37%)
Bid (Size)$50.61 (5)
Ask (Size)$51.82 (1)
Day Low / High$50.60 - 58.32
Volume4.8 M

Wayfair Facing Tough 2022 as Consumer Spending Shift Saps Growth, BofA Says

4:15PM ET 12/16/2021 MT Newswires
Wayfair (W) has limited avenues for growth amid a weaker near- to medium-term outlook, BofA Securities said in a research note Thursday.

The brokerage said it continues to see long-term upside, but has a more cautious short-term view on the online furnishings merchant's stock. Middle-income consumers are the company's primary customer base, which could pose a risk to sales and to the positive growth inflection in 2021 amid the economic reopening, limited flexibility and inflation and as customers shift spending back to to travel and entertainment next year, according to the note.

BofA downgraded Wayfair's stock to underperform from neutral and lowered its price target to $175 from $265.

Price: 189.51, Change: -0.44, Percent Change: -0.23