Why Wayfair Stock Was Plummeting This Week
's (NYSE: W) online portal may be a popular destination for consumers shopping for furniture and home goods, but the company hasn't been popular on the stock exchange lately. According to data compiled by S&P Global Market Intelligence, its share price had fallen by almost 14% week to date as of Friday before market open. Analysts continued to get more bearish on the company following its discouraging second-quarter results.
Although Wayfair reported said results late last week, several of the resulting pundit price target cuts happened in the current five-day trading stretch.
The company is followed by a fairly large contingent of analysts, quite a few of whom weren't shy to share their new, more downbeat takes on the stock. On Monday, for example, Barclays' Adrienne Yih cut her fair value assessment on Wayfair to $51 per share from the preceding $58.
Source Fool.com
Wayfair Inc. Aktie
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