Wix.com Ltd (WIX) Received its Third Buy in a Row


After Barclays and Oppenheimer gave Wix.com Ltd (NASDAQ: WIX) a Buy rating last month, the company received another Buy, this time from KeyBanc. Analyst Monika Garg maintained a Buy rating on Wix.com Ltd yesterday and set a price target of $133. The company’s shares closed yesterday at $111.11.

Garg noted:

“We expect ACPS to continue to grow as the Company monetizes its solutions.”

According to TipRanks.com, Garg is a top 100 analyst with an average return of 26.6% and a 79.5% success rate. Garg covers the Technology sector, focusing on stocks such as Oracle Corp, Guidewire, and Autodesk.

Currently, the analyst consensus on Wix.com Ltd is a Moderate Buy with an average price target of $117.75, implying a 6.0% upside 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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The company has a one-year high of $125.84 and a one-year low of $73.65. Currently, Wix.com Ltd has an average volume of 813.3K.

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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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