Wix.com Ltd Receives a Buy from SunTrust Robinson

By Ryan Adsit

SunTrust Robinson analyst Naved Khan maintained a Buy rating on Wix.com Ltd (NASDAQ: WIX) today and set a price target of $71. The company’s shares opened today at $65.55.

Khan said:

“We maintain our Buy rating and $71 PT on WIX. We expect WIX to report 4Q results in line with Street estimates when it reports on Wed. 2/14 (pre- open). As in recent quarters, we expect strong top-line growth, driven by robust user growth and higher ARPU. Management’s 2018 outlook along with its commentary on new product introductions/enhancements, and underlying business metrics (conversions, collections growth, marketing ROI, etc.) will be key to the stock post-print, in our view. We’ve lowered our 2018 EBITDA modestly to reflect costs for the Super Bowl ad.”

According to TipRanks.com, Khan is a 5-star analyst with an average return of 20.0% and a 71.9% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Paypal Holdings, and Facebook Inc.

Currently, the analyst consensus on Wix.com Ltd is Strong Buy and the average price target is $74, representing a 12.9% upside.

In a report issued on January 30, Barclays also maintained a Buy rating on the stock with a $64 price target.

The company has a one-year high of $86.15 and a one-year low of $50.90. Currently, Wix.com Ltd has an average volume of 564.5K.

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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.