What Made Rosenblatt Securities Upgrade Wix’s Stock?

Wix (WIX) received a Hold rating and a $102.00 price target from Rosenblatt Securities analyst Mark Zgutowicz today. The company’s shares closed last Monday at $88.00, close to its 52-week low of $87.67.

According to TipRanks.com, Zgutowicz is a 3-star analyst with an average return of 0.7% and a 38.7% success rate. Zgutowicz covers the Technology sector, focusing on stocks such as Spotify Technology SA, Trade Desk, and Criteo SA.

Currently, the analyst consensus on Wix is a Strong Buy with an average price target of $155.44.

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Based on Wix’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $21.57 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.

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