Shares of Wayfair (NYSE:W) surged 8.8% as Tractor Supply CEO joined the board and RBC Capital raised price target to $86. Third-quarter results showed 8.1% sales increase with plans for a new store in Columbus. Shares closed at $106.99, up 8.3% from previous close.
Wayfair’s volatile shares had 45 moves greater than 5% in the last year. JPMorgan’s previous price target raise 11 days ago led to a 3.6% stock gain. Analysts expect strong performance with U.S. revenue up 6% and adjusted EBITDA beating estimates.
Wayfair is up 132% year-to-date, reaching a new 52-week high at $106.88 per share. Investors who purchased $1,000 worth of shares 5 years ago now have an investment worth $454.17.
Read more at Yahoo Finance: Why Are Wayfair (W) Shares Soaring Today
