Wix (WIX) Gets a Buy Rating from SunTrust Robinson

SunTrust Robinson analyst Naved Khan reiterated a Buy rating on Wix (WIX) today and set a price target of $172.00. The company’s shares closed last Monday at $140.71.

According to TipRanks.com, Khan is a 5-star analyst with an average return of 13.4% and a 61.4% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, TrueCar, and GoDaddy.

Currently, the analyst consensus on Wix is a Strong Buy with an average price target of $155.44, implying a 13.7% upside from current levels. In a report issued on February 24, Needham also initiated coverage with a Buy rating on the stock with a $165.00 price target.

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The company has a one-year high of $156.40 and a one-year low of $104.61. Currently, Wix has an average volume of 594.2K.

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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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