RBC Capital Remains Bullish After Wix.com (WIX) Reports a Strong 4Q

RBC Capital maintained an Outperform rating on Wix.com (NASDAQ: WIX), and cut the price target to $35.00 (from $36.00), following the company's 4Q earnings report. Revenue of $57MM came in ahead of the Street's estimate of $56MM and guidance. The upside was driven by 2%-3% more Registered Users & Subscriptions than estimated. EBITDA of $7MM came in ahead of Street estimates of $6MM and guidance, driven by the Revenue upside as GM and Opex were in-line.

Analyst Mark Mahaney commented, "Wix reported Q4 results that were ahead of the Street. Key items & metrics showed deceleration, but of the relatively modest kind. Revenue estimates tweaked up, but ’16 EBITDA brought down to reflect more aggressive R&D spend – probably a good decision on WIX’s part. Maintain Outperform, with PT nudged down from $36 to $35."

For an analyst ratings summary and ratings history on Wix.com click here. For more ratings news on Wix.com click here.

Shares of Wix.com closed at $15.85 yesterday.

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