Wix.com (WIX) PT Raised to $125 at Oppenheimer

Oppenheimer raised its price target on Wix.com (NASDAQ: WIX) to $125.00 (from $105.00) while maintaining a Outperform rating.

Analyst Jason Helfstein commented, "Maintaining Outperform rating and increasing target from $105 to $125 on strong 2Q, modestly better guidance and higher peer valuations. Collection/revenue slightly ahead of the Street, FCF 6% ahead. FY18 guidance on collection/FCF increased by 1% for each. Guidance does not assume impact from new products. Meanwhile, Wix Code is likely to increase conversion rate and ARPU, and management expects upside
from Google partnership and Deviant-art in '19. 1Q17 cohort lower than prior year due to faster upfront conversion. Legacy cohorts continues to drive long-term FCF and margins should benefit from adoption of Code. Valuation still below SMB-focused Saas peers. Target assumes 8x" '19E collections vs. SHOP at 12x."

You May Also Be Interested In

• Dollarama Inc. (DOL:CN) (DLMAF) PT Raised to Cdn$231 at Bernstein SocGen
• Nokia OYJ (NOKIA:FH) (NOK) PT Raised to EUR18 at JPMorgan
• RLJ Lodging Trust (RLJ) PT Raised to $10 at Truist Securities