Is Wayfair Stock a Buy?
If you think the country's already circling Nov. 3 on the calendar, that date is being circled twice over by Wayfair (NYSE: W) shareholders. The online furniture retailer reports fresh financials before the market opens on Election Day.
Wayfair has pulled off one of this year's most stunning market turnarounds, but not everyone on Wall Street is convinced that the gains will keep coming. Gordon Haskett analyst Chuck Grom downgraded Wayfair on Thursday, concerned about supplier constraints and rising online shopping-cart abandonment rates. Earlier this month, Colin Sebastian at Baird lowered his third-quarter revenue growth forecast as a result of shipping bottlenecks and other logistics hiccups.
With Wayfair's buoyant stock heading into a critical financial update in less than two weeks, is the 2020 comeback kid still worth buying? Let's size up the spectacular turnaround and Wayfair's near-term prospects to see if the stock is still worth a spot in your portfolio.
Source Fool.com
