Wix.com Ltd (WIX) Receives a Buy from SunTrust Robinson

By Jason Carr

In a report released today, Naved Khan from SunTrust Robinson maintained a Buy rating on Wix.com Ltd (WIXResearch Report), with a price target of $140. The company’s shares opened today at $99.45.

Khan commented:

“We’re tweaking our 2019 ests modestly higher and move PT to $140 (from $138). Reiterate BUY.”

According to TipRanks.com, Khan is a 5-star analyst with an average return of 18.0% and a 69.2% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, trivago NV, and Yext Inc.

Currently, the analyst consensus on Wix.com Ltd is a Strong Buy with an average price target of $112.50.

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Based on Wix.com Ltd’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $5.92 million. In comparison, last year the company had a GAAP net loss of $6.61 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.