Wayfair Analysts Boost Their Forecasts After Strong Q3 Earnings - Wayfair (NYSE:W)

Core Insights - Wayfair Inc. reported strong earnings and revenue growth in Q3, with adjusted earnings per share of 70 cents, surpassing the analyst consensus estimate of 43 cents [1] - Quarterly sales reached $3.117 billion, reflecting an 8.1% year-over-year increase, exceeding the expected $3.014 billion [1] - Total net revenue, excluding the exit from the German market, increased by 9% year-over-year [1] Performance Metrics - Orders delivered grew over 5% year-over-year, with new orders showing mid-single-digit growth for two consecutive quarters [2] - Adjusted EBITDA saw more than 70% year-over-year growth [2] - Following the earnings announcement, Wayfair shares rose by 23.2%, closing at $106.52 [2] Analyst Ratings and Price Targets - Needham analyst Bernie McTernan maintained a Buy rating and raised the price target from $83 to $125 [4] - Guggenheim analyst Steven Forbes also maintained a Buy rating, increasing the price target from $90 to $120 [4] - Piper Sandler analyst Peter Keith reiterated an Overweight rating and raised the price target from $98 to $125 [4]