After Wedbush and Deutsche Bank gave Wix.com Ltd (NASDAQ: WIX) a Buy rating last month, the company received another Buy, this time from Northland Securities. Analyst Tim Klasell maintained a Buy rating on Wix.com Ltd today and set a price target of $160. The company’s shares closed last Monday at $147.33, close to its 52-week high of $155.75.
According to TipRanks.com, Klasell is a 5-star analyst with an average return of 16.2% and a 65.8% success rate. Klasell covers the Technology sector, focusing on stocks such as Tyler Technologies, Zix Corporation, and Proofpoint Inc.
Wix.com Ltd has an analyst consensus of Strong Buy, with a price target consensus of $159.75.
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Based on Wix.com Ltd’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 $5.64 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.
