RBC Capital Reaffirms Their Buy Rating on Wix (WIX)
RBC Capital analyst Mark Mahaney maintained a Buy rating on Wix (WIX) on March 26 and set a price target of $143.00. The company’s shares closed last Friday at $106.26.
According to TipRanks.com, Mahaney is a 5-star analyst with an average return of 9.0% and a 50.1% success rate. Mahaney covers the Technology sector, focusing on stocks such as Spotify Technology SA, Uber Technologies, and Eventbrite.
Wix has an analyst consensus of Strong Buy, with a price target consensus of $147.40, which is a 25.4% upside from current levels. In a report issued on March 19, Wedbush also maintained a Buy rating on the stock with a $105.00 price target.
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Based on Wix’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $205 million and GAAP net loss of $21.57 million. In comparison, last year the company earned revenue of $164 million and 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.
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