Piper Sandler raised the firm’s price target on Wix.com (WIX) to $262 from $249 and keeps an Overweight rating on the shares. The firm notes that most importantly on the Wix.com print, management guided to reported free cash flow margins of 30%-plus vs. consensus of 28%-29%. This says to Piper the free cash flow headroom is greater than it appreciated.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WIX:
- Wix.com price target raised to $255 from $250 at UBS
- Wix.com price target raised to $260 from $250 at Benchmark
- Wix.com price target lowered to $194 from $208 at Wells Fargo
- Wix.com price target raised to $280 from $275 at Citi
- Wix’s Strong Financial Performance and Future Growth Prospects Earn a ‘Buy’ Rating