Northland Securities Sticks to Its Buy Rating for Wix (WIX)

In a report released today, Tyler Wood from Northland Securities maintained a Buy rating on Wix (WIXResearch Report), with a price target of $160.00. The company’s shares closed last Monday at $125.20.

According to TipRanks.com, Wood is a 2-star analyst with an average return of 2.0% and a 83.3% success rate. Wood covers the Technology sector, focusing on stocks such as Tyler Technologies, Proofpoint, and ServiceNow.

Currently, the analyst consensus on Wix is a Moderate Buy with an average price target of $148.60, implying a 16.0% upside from current levels. In a report issued on November 11, SunTrust Robinson also maintained a Buy rating on the stock with a $168.00 price target.

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Based on Wix’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $17.37 million. In comparison, last year the company had a GAAP net loss of $5.92 million.

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Wix.com Ltd. engages in the provision of web development, design, and management solutions and applications. It provides free design templates for personal and business use, web design and layout tools, web hosting through the Wix domain, applications from the App Market, blog and social network page support, and other marketing and work flow management applications and services. The company also offers eCommerce and appointment applications, and marketing tools such as Google Analytics and mailing lists. Wix.com was founded by Avishai Abrahami, Nadav Abrahami and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.