Piper Sandler raised the firm’s price target on Wix.com (WIX) to $249 from $200 and keeps an Overweight rating on the shares. The firm says bookings and free cash flow outcomes continued to impress in Q3, with 16% bookings growth and free cash flow margins of 29%. Q4 guidance implies bookings growth will further accelerate to 16%-18%, Piper adds.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WIX:
- Wix.com Ltd Reports Strong Q3 Growth Driven by AI Innovations
- Wix.com price target raised to $248 from $187 at Morgan Stanley
- Wix.com price target raised to $250 from $200 at Oppenheimer
- Wix.com price target raised to $236 from $184 at Barclays
- Target reports downbeat Q3, Comcast plans cable TV spinoff: Morning Buzz