DA Davidson last night initiated coverage of Wix.com with a Buy rating and $100 price target. The analyst believes the company is in a “commanding position” to capitalize on the emerging artificial intelligence era. In addition, Wix’s agency business is at an inflection point, margins have significant upside risk, and the stock’s valuation is attractive, the analyst tells investors in a research note. The firm says the company is a leading website builder that is gaining share.
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