Is the Growth Boom Over at Wayfair?

At least one Wall Street pro is cooling his enthusiasm for one of this year's post-pandemic sell-off winners. Justin Post at Bank of America Securities is downgrading shares of Wayfair (NYSE: W) on Friday, arguing that his firm's credit and debit card data suggests that consumer spending for online home furnishings decelerated in August.

We're still buying stuff for our homes. The shelter-in-place phase of the coronavirus crisis has made us more critical of our furnishings. But with more brick-and-mortar furniture stores starting to reopen this summer (and folks clamoring to get out of the house even if it's just to shop for a new sofa), Wayfair is no longer competing with just its online rivals.

Augmented reality is one way that Wayfair stands out among online furniture retailers. Image source: Wayfair.

Source Fool.com