Wix.com (WIX) PT Raised to $75 at Wedbush
Wedbush raised its price target on Wix.com (NASDAQ: WIX) to $75.00 (from $65.00) while maintaining a Neutral rating.
Analsyt Aaron Turner commented, "We view WIX as the best multi-vertical web builder for small businesses and believe the secular shift of SMBs coming online will drive strong revenue and FCF growth for the foreseeable future. However, we believe these growth dynamics are currently fairly valued by the market."
The firm is raising FY18 revenue estimate to $593m from $565mm and FCF estimate to $99.8mm from $93mm.