NEW YORK (TheStreet) -- Shares of Wayfair Inc. (W) - Get Wayfair, Inc. Class A Report closed up 3.54% to $26.05 after coverage of the company was initiated at Pacific Crest Securities, Goldman Sachs, and Citigroup.
Pacific Crest initiated coverage of the online home furnishing store company with an "outperform" rating and a price target of $39.
The firm said the leading home goods retailer is growing roughly twice as fast as the industry.
"Customer metrics are improving and the business should scale and show leverage over time," said Pacific Crest analyst Chad Bartley.
Goldman Sachs set a price target of $35 and issued a "buy" rating in its initiation of Wayfair.
"We believe the bar for customer growth and wallet share gains is more than achievable with the stock trading at just over 1x 2016E EV/Sales," said Goldman Sachs analyst Debra Schwartz.
Citigroup initiated the company with a "buy" rating set a price target of $30 for the company.
The firm said that profitability targets will be key and that at 1.2x revenue, valuation is attractive with revenue growth expectations expected to be over 30%.