- Over the past month, Wayfair Inc (NYSE: W) has seen its stock grow despite the economic crisis. This is why the company has been seeing a surge in growth.
Over the past month, Wayfair Inc (NYSE: W) has seen its stock grow despite the economic crisis. And it even continued climbing after Stifel analysts downgraded the stock since its passed the price target.
On March 19, Wayfair’s stock price was trading at about $23.52. And now it is at $123.68. But this is still much more south than March 1, 2019 when the stock was at more than $169.
One of the reasons why Wayfair has been surging is due to its fast turnaround time on delivery and a wide range of products available.
Wayfair rival Amazon.com had been prioritizing essential items whereas other products were assigned longer wait times. This created a window of opportunity for Wayfair.
“Wayfair is competing with mass-market retailers, specialty retail, and low-cost providers, making it harder to stay front of mind perpetually,” wrote Morningstar senior equity analyst Jaime M. Katz, CFA about some of the problems for Wayfair that could be on the horizon, according to Fool.com.
Wayfair is expected to release its earnings on May 5, 2020. According to Zacks Equity Research, Wayfair is expected to report a quarterly loss of $2.54 per share in its upcoming report, representing a year-over-year change of -56.8%. And revenues are expected to be $2.34 billion — up 20.3% from the year-ago quarter.
Disclosure: I have a small number of Wayfair shares
