Wayfair

W · NYSE

$113.56+$1.58 (+1.41%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $111.98

W analyst rating

BuyConsensus of 28 analysts over the last 12 months. 64% rate it a buy.

Strong buy1
Buy17
Hold10
Underperform0
Sell0

12-month price target · 33 analysts

Average $124.33 (+9.5% upside)

Low: $63.63
Now: $113.56
High: $163.80

Upgrades and downgrades

The latest rating actions, newest first

W analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Oct 20, 2026	Maintains	Overweight	$133.00 → $135.00	59%
Baird	Oct 8, 2026	Maintains	Neutral	$116.00 → $117.00	68%
Mizuho	Sep 29, 2026	Maintains	Outperform	$90.00 → $110.00	41%
Rosenblatt	Aug 20, 2026	Initiates	Buy	$125.00	62%
Bernstein	Aug 14, 2026	Upgrade	Market Perform → Outperform	$100.00 → $125.00	63%
Citigroup	Aug 14, 2026	Maintains	Buy	$95.00 → $133.00	56%
UBS	Aug 5, 2026	Maintains	Buy	$118.00 → $156.00	70%
TD Cowen	Aug 5, 2026	Maintains	Hold	$75.00 → $110.00	55%
Truist Securities	Aug 5, 2026	Maintains	Buy	$99.00 → $135.00	63%
RBC Capital	Aug 5, 2026	Maintains	Sector Perform	$78.00 → $92.00	54%

The case for and against

Updated Oct 14, 2026

Bull case

Wayfair is attractive fundamentally because it is evolving from a pure e-commerce retailer into an integrated home-commerce platform, supported by 21.4M active customers, 79.8% repeat-order mix, and 1Q revenue of $2.9B, up 7.4% y/y, while active customers turned positive for the first time since 2Q24. Its multichannel strategy could meaningfully improve economics as 13 stores help lower customer acquisition costs and build local awareness, while CastleGate and multichannel fulfillment can lift delivery speed, conversion, and gross-margin efficiency if penetration continues to expand beyond roughly 25% toward 35%+. The firm’s 1Q adj. EBITDA margin of 5.2%, strongest in 5 years, combined with 15%+ contribution margin, 140 bps of advertising leverage, and proactive dilution-risk reduction through convertible note repurchases, supports a constructive fundamental outlook.

Bear case

Wayfair is facing a bearish fundamental setup because gross margin improvement is being offset by Rewards, pricing and delivery-speed investments, tariffs, and other supply-chain costs, leaving stabilization difficult to underwrite in the near term. Demand visibility is also weak: furniture and home furnishings category sales fell -3% y/y in April and May, consumer sentiment readings of 49.8, 44.8, and 49.5 were the second lowest since the 1970s, and orders per active customer are trending lower, with 2QE/’26E/’27E adj. EBITDA only in-line/-1%/-5% vs. consensus. Even with 13 stores and a broad assortment, Wayfair still depends on expensive customer acquisition and a capital structure with $3.3 billion of debt at year-end ’25, which limits flexibility if growth or cash flow disappoints.

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