- The shares of Wix.com (NASDAQ: WIX) have received a $250 price target from Jefferies. These are the details.
The shares of Wix.com (NASDAQ: WIX) have received a $250 price target from Jefferies. And Jefferies analyst Brent Thill reiterated a “Buy” rating on the shares.
Thill pointed out that the shares fell over 50% in the past year and it is now trading near a trough valuation. This bodes well for the company as the comps ease in the second half of the year.
“WIX trades at 4.4x NTM, near its 5-yr trough, which gives little credit for subscription-based 20%+ growth. While we expect an in-line Q4 and first half comps are tough, second half comps are easier and revs should re-accelerate. We remain positive on LT fundamentals given: 1) expanding product line (growing users and ARPU), 2) penetration of the 10x larger pro market, and 3) multi-year contribution from B2B partnerships,” wrote Thill in a research note.
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