Wix.com price target raised to $150 from $130 at Needham

Needham raised the firm’s price target on Wix.com to $150 from $130 and keeps a Buy rating on the shares. The macro environment has shown signs of improvement for the company as judged by new business formation growth over the past few months, the analyst tells investors in a research note. Combined with an increasing emphasis on Partner revenue, including the launch of Wix Studios, this provides upside risk to the firm’s revenue estimates, Needham added.