SunTrust Robinson Remains a Buy on Wix (WIX)


SunTrust Robinson analyst Naved Khan maintained a Buy rating on Wix (WIX) today and set a price target of $168.00. The company’s shares closed last Monday at $128.10.

According to TipRanks.com, Khan is a 5-star analyst with an average return of 15.3% and a 65.8% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, GoDaddy, and trivago.

Currently, the analyst consensus on Wix is a Moderate Buy with an average price target of $142.75.

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Based on Wix’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $16.73 million. In comparison, last year the company had a GAAP net loss of $5.92 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, 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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