Needham Stick to Their Buy Rating for Wix.com Ltd By Investing.com

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Needham Stick to Their Buy Rating for Wix.com Ltd

Jun 14, 2021 05:35AM ET

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Needham analyst Bernie McTernan reiterated a Buy rating on Wix (NASDAQ:WIX).com Ltd on Monday, setting a price target of $310, which is approximately 10.65% above the present share price of $280.17.

McTernan expects Wix.com Ltd to post earnings per share (EPS) of -$2.16 for the second quarter of 2021.

The current consensus among 17 TipRanks analysts is for a Strong Buy rating of shares in Wix, with an average price target of $322.
The analysts price targets range from a high of $375 to a low of $250.

In its latest earnings report, released on 03/31/2021, the company reported a quarterly revenue of $304.11 million and a net profit of -$85.66 million. The company's market cap is $15.8 billion.

According to TipRanks.com, Needham analyst Bernie McTernan is currently ranked with 4 stars on a 0-5 stars ranking scale, with an average return of 17.8% and a 66.67% success rate.

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 (NASDAQ:GOOGL) 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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