May 02, 2017: Buckingham reiterates Wayfair Inc with a Buy rating and set a price target of $57. Buckingham raised the price target to $57 from $47. Buckingham sees sees Wayfair as a takeover target for WMT as part of their new strategy to pursue expertise and talent in ecommerce as it looks to regain share lost to inline competitors.
April 20, 2017: Citron Research targets longs in Wayfair again, tweets: “Why is Wayfair the ONLY retailer who uses a manual process for accounting?” Citron notes earlier Andrew Left interview with TheStreet.com: https://www.thestreet.com/story/14093925/1/furniture-retailer-wayfair-another-madoff-andrew-left.html
December 16, 2016: Hearing takeover rumors circulating about Wayfair. The rumor is that Lowes is a possible buyer at a price of $55 per share.
November 30, 2016: Wayfair reports that direct retail sales rose 52% year over year during the Thanksgiving holiday weekend. Direct retail gross sales are defined as dollars of order intake. The period of sales tracking was the five-day peak shopping period of Thanksgiving Day through Cyber Monday. The growth rate of total company gross sales was 46 percent year over year during the same period. The company experienced its strongest sales day ever on Cyber Monday with peak order volume between 9 p.m. and 12 a.m. ET. Repeat customers accounted for 58 percent of holiday sales and Wayfair’s popular mobile app made it quick and convenient for shoppers to make purchases on the go.
Wayfair Inc. engages in the e-commerce business in the United States. It offers approximately seven million products for the home under various brands.
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