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In a report released today, Brad Erickson from Needham reiterated a Buy rating on Wix (WIX), with a price target of $220.00. The company’s shares closed last Tuesday at $191.68, close to its 52-week high of $204.72.
According to TipRanks.com, Erickson is a 4-star analyst with an average return of 6.4% and a 51.2% success rate. Erickson covers the Technology sector, focusing on stocks such as Fiverr International, ANGI Homeservices, and Uber Technologies.
Wix has an analyst consensus of Strong Buy, with a price target consensus of $201.36, representing a 5.4% upside. In a report issued on May 15, JMP Securities also initiated coverage with a Buy rating on the stock with a $210.00 price target.
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The company has a one-year high of $204.72 and a one-year low of $76.81. Currently, Wix has an average volume of 1.08M.
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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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