Wayfair Cl A saw an improvement in its IBD SmartSelect Composite Rating Tuesday, from 88 to 98.
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The upgrade means the stock is now outperforming 98% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Wayfair Cl A is now out of buy range after breaking out from a cup with handle.
The stock sports an 80 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 80% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
In Q2, the company reported 85% EPS growth. Top line growth increased 5%, up from 0% in the prior quarter. That marks one quarter of accelerating revenue increases.
Wayfair Cl A earns the No. 5 rank among its peers in the Retail-Internet industry group. DoorDash is the top-ranked stock within the group.
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