Needham Believes Wix (WIX) Still Has Room to Grow
Needham analyst Brad Erickson assigned a Buy rating to Wix (WIX) today and set a price target of $340.00. The company’s shares closed last Thursday at $307.98, close to its 52-week high of $319.34.
According to TipRanks.com, Erickson is a 5-star analyst with an average return of 27.5% and a 56.6% success rate. Erickson covers the Technology sector, focusing on stocks such as Fiverr International, ANGI Homeservices, and Uber Technologies.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Wix with a $272.06 average price target, implying a 2.0% upside from current levels. In a report issued on July 23, Citigroup also maintained a Buy rating on the stock with a $330.00 price target.
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The company has a one-year high of $319.34 and a one-year low of $76.81. Currently, Wix has an average volume of 936.3K.
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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, 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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