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 opened today at $138.28, close to its 52-week high of $143.82.
Khan said:
“We believe Wix’s large and growing user base, its best-in-class freemium offering and robust suite of products and services should allow the company to sustain its above-market growth rates for the foreseeable future. Sizable (500bps+) boost to 2020 growth from increased investment into with momentum in Ascend should be incremental growth drivers for years to come. Valuation/Risks. WIX trades at ~10x EV/Revs our CY19 estimates. Our $154 PT is derived using a 7-yr DCF. Risks: Economic slowdown, increase in competition, and/or deterioration in key operating metrics (subscriber growth, churn, ARPU).”
According to TipRanks.com, Khan is a 5-star analyst with an average return of 20.9% and a 68.4% 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, a 4.2% upside from current levels. 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.
