Why Wayfair Stock Was Flying Higher Again Today
Shares of home-furnishings e-commerce company Wayfair (NYSE: W) were flying higher on Friday, one day after jumping as much as 16% higher. Yesterday, investors cheered earnings results early before the stock gave up all of its gains by the end of the day. Today, the company is scoring upgrades from analysts, sparking fresh gains. As of 12:30 p.m. EST, Wayfair stock was up 13%.
According to The Fly, three different analysts weighed in on Wayfair's 2020 results this morning. Two of them raised their price targets for the stock. An analyst with Cowen raised their price target from $375 per share to $450 per share, representing a whopping 55% upside. Less enthusiastically, an analyst with D.A. Davidson raised their target from $280 per share to $326 per share.
Image source: Getty Images.
Source Fool.com
