Wayfair stock essentially doubled from May 2018 to July 2018.
Second-quarter earnings weren't the best.
Certain aggressive modeling assumptions support the stock heading towards $200.
More realistically, Wayfair stock pulls back to $90.
Long-term, growth looks good; valuation is just rich here and now.
Shares of furniture e-commerce company Wayfair (W) essentially doubled in a few months from May 2018 to July 2018. That big rally, however, hit a speed bump recently amid a rough earnings season