Wayfair Inc (NYSE:W) on Tuesday reported better-than-expected second-quarter financial results.

Wayfair reported quarterly earnings of 95 cents per share which beat the analyst consensus estimate of 90 cents per share. The company reported quarterly sales of $3.519 billion which beat the analyst consensus estimate of $3.465 billion.

“Q2 marked another strong quarter of share capture and top line momentum, with 7.5% net revenue growth fueled by momentum in orders, which were up by 6% for the period. We saw the best sequential growth we’ve seen in a Q2 since the second quarter of 2020. In fact, revenue growth in the US was the best we’ve seen in the entire post-COVID period, with nearly 9% year-over-year revenue growth, continuing the high single digit share spread we’ve held since last fall,” said Niraj Shah, CEO, co-founder and co-chairman, Wayfair.

Wayfair shares fell 0.5% to $115.49 in pre-market trading.

These analysts made changes to their price targets on Wayfair following earnings announcement.

Needham analyst Bernie McTernan maintained the stock with a Buy and raised the price target from $83 to $133.

BMO Capital analyst Brian Pitz maintained the stock with a Market Perform and raised the price target from $105 to $115.

Considering buying W stock? Here’s what analysts think:

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