Wix.com Ltd (WIX) Gets a Buy Rating from KeyBanc


KeyBanc analyst Monika Garg maintained a Buy rating on Wix.com Ltd (WIX) yesterday and set a price target of $122. The company’s shares closed yesterday at $88.67.

Garg said:

“We believe Wix is a high-quality company with strong growth opportunities, positioned to help businesses build and manage their online presence.”

According to TipRanks.com, Garg is a 5-star analyst with an average return of 21.5% and a 66.7% success rate. Garg covers the Technology sector, focusing on stocks such as Oracle Corp, Guidewire, and Realpage.

Currently, the analyst consensus on Wix.com Ltd is a Strong Buy with an average price target of $113.67, implying a 28.2% upside from current levels. In a report released yesterday, Oppenheimer also maintained a Buy rating on the stock.

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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 $14.52 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.

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