Wayfair (NYSE:W) shares are trading higher after multiple firms upgraded and/or raised their respective price targets on the stock following the company's earnings results.
"Wayfair's focus remains squarely on connecting all of the industry's customers and suppliers on our unique platform, which is custom-built to address the specific needs of shopping for the home. Our platform model creates a flywheel where scale begets growth, which leads to further efficiency," said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.
Wayfair engages in e-commerce in the United States and Europe. At the end of 2020, the firm offered approximately 22 million products from more than 16,000 suppliers for the home sector under the brands Wayfair, Joss & Main, AllModern, DwellStudio, Birch Lane, and Perigold.
The stock was trading 4.7% higher at $299.57 at the time of writing. The stock has a 52-week high of $369 and a 52-week low of 144.51.