RudyAsh
8 Dec 23
Wix.com (NASDAQ:WIX) was reinstated as a Buy at Bank of America amid free cash flow and margin expansion. Shares of Wix.com (WIX) were little changed in premarket trading on Friday. The bank set a price target of $126 on the Tel Aviv-based website building company. Analysts called Wix (WIX) the "Tur...
Wix.com (NASDAQ:WIX) was reinstated as a Buy at Bank of America amid free cash flow and margin expansion. Shares of Wix.com (WIX) were little changed in premarket trading on Friday. The bank set a price target of $126 on the Tel Aviv-based website building company. Analysts called Wix (WIX) the "TurboTax of website building" as it makes it easy for individuals and small and medium-sized businesses to create a website. Wix is the top player in the space with 258M registered users and 4M premium subscribers, the bank said. In 2019, the company began moving upmarket, with the customer mix still trending toward small- and medium-sized businesses and professionals, a less competitive space likely carrying higher long-term margins, Bank of America said. "We like Wix’s underappreciated margin inflection story (mgmt. expects FCF margin to grow from just 4% in 2021 to 25% in 2025), as well as potential for new products to accelerate growth," the bank said. Last month, the company raised full year revenue and free cash flow guidance after the first three quarters of 2023 outperformed. For the third quarter, Wix (WIX) reported non-GAAP earnings of $1.10 per share that beat the average analyst estimate by 39 cents. Revenue of $393.8M topped estimates by $4.15M. "Wix is on the cusp of margin expansion that Street has yet to fully recognize," BofA said. The stock has a BUY rating from Seeking Alpha authors, while Wall Street analysts rate it a More about Wix.Com LtdWix.com Ltd, a technology company, develops and markets a cloud-based platform for creating websites and web applications globally. The company's stock performance has shown a slight decrease of 0.14% with a current stock price of 26.52. Market sentiment appears neutral with a Relative Strength Index (RSI) of 122, indicating the stock is neither overbought nor oversold. The company's market capitalization stands at 5.91 billion. It's important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with investing in this stock.
More about Wix.Com Ltd
Wix.com Ltd, a technology company, develops and markets a cloud-based platform for creating websites and web applications globally. The company's stock performance has shown a slight decrease of 0.14% with a current stock price of 26.52. Market sentiment appears neutral with a Relative Strength Index (RSI) of 122, indicating the stock is neither overbought nor oversold. The company's market capitalization stands at 5.91 billion. It's important to note that past market behavior is not always a reliable indicator of future performance, and there may be potential risks or uncertainties associated with investing in this stock.
Disclaimer:This is not financial advice. Please do your own research before investing in any asset.