.png "Wix.com Ltd (NASDAQ: WIX)")
In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on Wix.com Ltd (WIX), with a price target of $154. The company’s shares closed on Friday at $134.79, close to its 52-week high of $143.82.
Khan noted:
“We believe that WIX is on a path to deliver sustained strong top line growth over the N/M term, driven by a double-digit growth in subs as well as ARPU (which should benefit from Ascend and higher packaging/pricing). Greater agency adoption/usage, feature-based pricing for Corvid, higher than anticipated traction with the new CS initiative and broader rollout/adoption of payments represent potential upside to our ests. for 2020/beyond.”
According to TipRanks.com, Khan is a 5-star analyst with an average return of 20.5% and a 67.8% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, trivago NV, and Yext Inc.
Currently, the analyst consensus on Wix.com Ltd is a Moderate Buy with an average price target of $144.10, representing a 6.9% upside. In a report issued on May 13, Barclays also maintained a Buy rating on the stock with a $165 price target.
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Based on Wix.com Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $5.75 million. In comparison, last year the company had a GAAP net loss of $19.81 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.
