Week 5 Waiver Wire Pickups: Best Fantasy Sleepers to Target on Yahoo

We've reached the second month of the 2023 NFL season, which means that bye weeks have arrived.

With multiple teams out of action—it's the Cleveland Browns, Los Angeles Chargers, Seattle Seahawks and Tampa Bay Buccaneers this week—byes can leave managers scrambling to the waiver wire for replacements.

Below, we'll dive into four prime waiver-wire targets to consider in Yahoo leagues and why they could provide fantasy value in Week 5.

All picks and analyses are based on point-per-reception (PPR scoring).

Joshua Dobbs, QB, Arizona Cardinals

Michael Owens/Getty Images

SANTA CLARA, CALIFORNIA - OCTOBER 01: Joshua Dobbs #9 of the Arizona Cardinals passes as he warms up prior to an NFL football game between the San Francisco 49ers and the Arizona Cardinals at Levi's Stadium on October 01, 2023 in Santa Clara, California. (Photo by Michael Owens/Getty Images)

It's worth checking to see if Houston Texans quarterback C.J. Stroud is available, as he's rostered in 74 percent of Yahoo leagues. Stroud has been fantastic for a rookie QB and has thrown for 1,22 yards with six touchdowns and no interceptions.

If you missed the boat on Stroud, Arizona Cardinals quarterback Joshua Dobbs is your best, most realistic target.

Dobbs hasn't produced the eye-catching numbers that Stroud has, but he has thrown four touchdowns and no picks. With 141 rushing yards and one rushing touchdown, he also provides a little bit of scrambling upside.

While Dobbs doesn't have a can't-miss matchup in Week 5, it's not extremely daunting either. The Cincinnati Bengals have allowed the 13th-most (tied) fantasy points to opposing quarterbacks through the first month.

Dobbs is rostered in just 18 percent of Yahoo leagues.

Jaleel McLaughlin, RB, Denver Broncos

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CHICAGO, ILLINOIS - OCTOBER 01: Jaleel McLaughlin #38 of the Denver Broncos runs with the ball against the Chicago Bears during the first quarter at Soldier Field on October 01, 2023 in Chicago, Illinois. (Photo by Michael Reaves/Getty Images)

Due to an early rash of running-back injuries, there aren't a lot of options on the wire at the position. However, Denver Broncos running back Jaleel McLaughlin is available in 48 percent of Yahoo leagues.

McLaughlin should be target No. 1 for RB-needy managers, as he should have a high-volume workload in Week 5. Javonte Williams is dealing with a quad injury and gave way to McLaughlin in last week's win over the Chicago Bears. McLaughlin played a big role in the victory.

"He played really well.," head coach Sean Payton told reporters. "He's one of the guys that got a game ball this morning. He was explosive in the run and the pass."

McLaughlin finished with 72 rushing yards, three catches, 32 receiving yards and a receiving touchdown. He should see the bulk of the backfield work with Williams ailing, and the New York Jets have allowed the 11th-most fantasy points to opposing RBs this season.

Rashid Shaheed, WR, New Orleans Saints

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GREEN BAY, WISCONSIN - SEPTEMBER 24: Rashid Shaheed #22 of the New Orleans Saints runs with the ball in the second half against the Green Bay Packers at Lambeau Field on September 24, 2023 in Green Bay, Wisconsin. (Photo by Patrick McDermott/Getty Images)

Managers looking for long-term value should consider Chargers rookie wideout Quentin Johnston, who is rostered in 38 percent of Yahoo leagues. Los Angeles lost No. 2 receiver Mike Williams to a torn ACL, and Johnston may eventually step in to fill his role.

For Week 5, however, New Orleans Saints receiver Rashid Shaheed is worth a claim. Shaheed has caught at least three passes in three of four games this season and could get an opportunity to shine against the New England Patriots this week.

The Patriots are likely to put a lot of focus on slowing No. 1 target Chris Olave, which could open the door for Shaheed.

Last week, New England held Dallas Cowboys receiver CeeDee Lamb to just four catches and 36 yards, though he did score a touchdown. Complementary receivers Michael Gallup and Jalen Tolbert, meanwhile, each had at least four receptions and 53 yards.

New England does a good job of taking away No. 1 receivers, but it has still allowed the 15th-most fantasy points to opposing wideouts overall. Shaheed is rostered in only 39 percent of Yahoo leagues.

Dalton Schultz, TE, Houston Texans

Leslie Plaza Johnson/Icon Sportswire via Getty Images

HOUSTON, TX - AUGUST 19: Houston Texans tight end Dalton Schultz (83) carries the ball in the second quarter during the preseason NFL game between the Miami Dolphins and Houston Texans on August 19, 2023 at NRG Stadium in Houston, Texas. (Photo by Leslie Plaza Johnson/Icon Sportswire via Getty Images)

Texans tight end Dalton Schultz hasn't been particularly consistent this season. He's had two games with at least three receptions and 34 yards and two with two or fewer catches and less than 10 yards.

However, Schultz is on the short list of viable waiver targets at his position. He's coming off his best game of the season—with three catches, 42 yards and a touchdown—and has a favorable matchup against the Atlanta Falcons.

Atlanta has allowed the seventh-most fantasy points to opposing tight ends this season. Expect Stroud and the Texans to get Schultz involved early, as the Falcons pass defense has been solid overall (5.4 yards per attempt allowed).

While the floor for Schultz is low, there's a good amount of upside in his matchup. Managers seeking a one-week replacement for David Njoku or Noah Fant should consider Houston's 27-year-old pass-catcher.

Schultz is rostered in 36 percent of Yahoo leagues.

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*Fantasy scoring and roster information from FantasyPros.