In a report issued on February 14, Mark Mahaney from RBC Capital maintained a Buy rating on Wix (WIX), with a price target of $161.00. The company’s shares closed last Monday at $154.62, close to its 52-week high of $156.36.
According to TipRanks.com, Mahaney is a top 100 analyst with an average return of 18.8% and a 64.7% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Uber Technologies, and Pinterest.
Currently, the analyst consensus on Wix is a Moderate Buy with an average price target of $148.80, implying a -2.7% downside from current levels. In a report issued on February 5, SunTrust Robinson also assigned a Buy rating to the stock with a $170.00 price target.
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Based on Wix’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $17.37 million. In comparison, last year the company had a GAAP net loss of $5.75 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, 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.
