W - Half of Wall Street Covering Analysts Are Calling This Beaten-Down Stock a Buy Right Now and 1 Sees a 60% Upside
2024-04-14 08:31:00 ET
Betting on a recovery, investors have sent up Wayfair (NYSE: W) stock 75% over the past year. Most of that gain came during 2023, but the stock has held steady so far this year as investors wait to hear the next update from the online furniture seller.
Wayfair stock is still down 82% from its highs, and it's still trading at a dirt cheap valuation of 0.6 times trailing-12-month sales. But 53% of 38 covering Wall Street analysts are saying to buy it right now, and the other 47% are calling it a hold -- not one of them is calling it a sell. The median price target is a 13% increase from today's price, and one analyst sees it gaining 62% over the next 12 to 18 months.
So should you go with Wall Street and buy Wayfair stock?
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Half of Wall Street Covering Analysts Are Calling This Beaten-Down Stock a Buy Right Now, and 1 Sees a 60% Upside