KeyBanc Assumes Wix.com (WIX) at Sector Weight

KeyBanc analyst Justin Patterson assumes coverage on Wix.com (NASDAQ: WIX) with a Sector Weight rating, $165.00.

The analyst comments "We are resuming coverage at SW with a $165 FV, based on ~5.5x FY24E EV/S. Our revenue estimates are generally below the Street, reflecting caution on Partner revenue growth, while our margin expectations are generally in line with the Street. Based on our research, we see Wix’s robust web development platform as a unique combination of empowering DIY users and commerce capabilities spanning from high quality web presence, booking management, eCommerce, marketing solutions, and a wide ecosystem of app integrations. We believe valuation at current levels fairly captures Wix’s growth potential, operational leverage, and FCF generation."

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 $168.74 yesterday.

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