Oppenheimer analyst Jason Helfstein assigned a Buy rating to Wix.com Ltd (WIX) today. The company’s shares closed yesterday at $125.75, close to its 52-week high of $125.84.
According to TipRanks.com, Helfstein is a top 100 analyst with an average return of 17.8% and a 64.0% success rate. Helfstein covers the Technology sector, focusing on stocks such as Endurance International, ANGI Homeservices Inc, and Spotify Technology SA.
Currently, the analyst consensus on Wix.com Ltd is a Strong Buy with an average price target of $124.25, a -1.2% downside from current levels. In a report issued on February 5, Barclays also maintained a Buy rating on the stock with a $125 price target.
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Based on Wix.com Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.92 million. In comparison, last year the company had a GAAP net loss of $6.61 million.
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Wix.com Ltd. engages in the provision of web development, design, and management solutions and applications. It provides free design templates for personal and business use, web design and layout tools, web hosting through the Wix domain, applications from the App Market, blog and social network page support, and other marketing and work flow management applications and services. The company also offers eCommerce and appointment applications, and marketing tools such as Google Analytics and mailing lists. Wix.com was founded by Avishai Abrahami, Nadav Abrahami and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.
