JPMorgan raised the firm’s price target on Wix.com (WIX) to $205 from $195 and keeps a Neutral rating on the shares. The firm says that while Wix.com’s Q3 numbers came in-line on revenue, free cash flow was well ahead of the Street and Creative Subscriptions bookings positively surprised with visible acceleration. The analyst upped the price target on the “strong” quarter but thinks a preferable capital allocation scenario would involve refinancing the convert and buying back more shares.
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Read More on WIX:
- Options Volatility and Implied Earnings Moves This Week, November 18 – November 21, 2024
- WIX Upcoming Earnings Report: What to Expect?
- Wix.com price target lowered to $184 from $186 at Barclays
- Piper upgrades Wix.com to Overweight, downgrades GoDaddy to Neutral
- Wix.com upgraded to Overweight from Neutral at Piper Sandler
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
