Wix.com price target raised to $114 from $100 at JMP Securities

JMP Securities analyst Andrew Boone raised the firm’s price target on Wix.com to $114 from $100 and keeps an Outperform rating on the shares. Wix reported strong Q2 results, with revenue that was 2% above consensus and raised revenue and free cash flow guidance, the analyst tells investors in a research note. The firm believes Wix has reached a tipping point in its software offerings for developers with EditorX, Blocks, and now Wix Studio’s business management tools and workflows, while the Partners business is now meaningful enough to move results.