Raymond James analyst Josh Beck upgraded Wix.com (WIX) to Strong Buy from Outperform with a price target of $300, up from $225. The firm’s channel checks indicate a “robust” Studio product-market fit for Wix, creating a multi-year WordPress displacement tailwind. The analyst has increased conviction in Wix Studio winning market share among partners and agencies from incumbent WordPress that should help drive a “dual acceleration” in growth and profitability. Wix’s new web-building product for agencies, Wix Studio, is gaining significant traction and market share among professional web design agencies, the analyst tells investors in a research note.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WIX:
- Wix.com upgraded to Strong Buy from Outperform at Raymond James
- Wix.com upgraded to Overweight from Equal Weight at Morgan Stanley
- Wix.com price target raised to $260 from $240 at Cantor Fitzgerald
- Wix.com price target raised to $260 from $225 at Jefferies
- Wix.com price target raised to $270 from $260 at Citi