5 Best Furniture Stocks to Buy Now

2. Wayfair Inc. (NYSE: W)

Number of Hedge Fund Holders: 37

Wayfair Inc. (NYSE: W) is an online home-goods retailer based in Boston and it ranks 2nd on the list of 10 best furniture stocks to buy now. Wayfair Inc. (NYSE: W) sells furniture and home accessories on its e-commerce site. 

On August 5, Wayfair Inc. (NYSE: W) stock jumped 6.60% in premarket trading after the company reported a higher profit than expected. In the second quarter of 2021, Wayfair Inc. (NYSE: W) reported an EPS of $1.89, beating estimates by $0.73. The company’s revenue in the second quarter was $3.9 billion. After the company’s Q2 report, Jefferies analyst Jonathan Matuszewski maintained a Buy rating on Wayfair Inc. (NYSE: W) with a price target of $330 per share. 

By the end of the first quarter of 2021, 37 hedge funds followed by Insider Monkey held stakes in Wayfair Inc. (NYSE: W) with a total value of $4.01 billion.

In its Q1 2021 investor letter, Vulcan Value Partners mentioned Wayfair Inc. (NYSE: W) and shared their insights on the company. Here is what the fund said:

“During the quarter, Wayfair Inc. was a material contributor to the portfolio after reporting strong earnings, increased revenue, positive operating margins, and strong free cash flow generation. The company’s long-term trajectory is positive, and we are pleased to own this business.”