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Evercore ISI Reaffirms Their Buy Rating on Wix (WIX)

Tipranks - Tipranks - Sat Mar 7, 6:30AM CST

In a report released yesterday, Robert Coolbrith from Evercore ISI maintained a Buy rating on Wix, with a price target of $160.00. The company’s shares closed yesterday at $92.94.

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Coolbrith covers the Communication Services sector, focusing on stocks such as AppLovin, Roku, and Ziff Davis. According to TipRanks, Coolbrith has an average return of -6.0% and a 43.14% success rate on recommended stocks.

Wix has an analyst consensus of Strong Buy, with a price target consensus of $136.60, a 46.98% upside from current levels. In a report released yesterday, Citi also assigned a Buy rating to the stock with a $105.00 price target.

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Based on Wix’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $505.19 million and a GAAP net loss of $589 thousand. In comparison, last year the company earned a revenue of $444.67 million and had a net profit of $26.78 million

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