Piper Sandler raised the firm’s price target on Wix.com (WIX) to $262 from $249 and keeps an Overweight rating on the shares. The firm notes that most importantly on the Wix.com print, management guided to reported free cash flow margins of 30%-plus vs. consensus of 28%-29%. This says to Piper the free cash flow headroom is greater than it appreciated.
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Read More on WIX:
- Wix.com price target raised to $255 from $250 at UBS
- Wix.com price target raised to $260 from $250 at Benchmark
- Wix.com price target lowered to $194 from $208 at Wells Fargo
- Wix.com price target raised to $280 from $275 at Citi
- Wix’s Strong Financial Performance and Future Growth Prospects Earn a ‘Buy’ Rating