Rosenblatt Securities analyst Mark Zgutowicz maintained a Hold rating on Wix (WIX) today. The company’s shares closed last Wednesday at $269.78.
According to TipRanks.com, Zgutowicz is a 5-star analyst with an average return of 46.4% and a 77.2% success rate. Zgutowicz covers the Technology sector, focusing on stocks such as Spotify Technology SA, Manhattan Associates, and Criteo SA.
Wix has an analyst consensus of Moderate Buy, with a price target consensus of $350.00.
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Based on Wix’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $236 million and GAAP net loss of $57.74 million. In comparison, last year the company earned revenue of $185 million and had a GAAP net loss of $16.73 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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