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Fly News Breaks for July 28, 2017
WIX
Jul 28, 2017 | 09:36 EDT
Needham analyst Kerry Rice views the post-earnings weakness in shares of Wix.com as a buying opportunity. With its recent history of beat and raise quarters, a beat and maintain guidance print "comes as a disappointment to some," Rice tells investors in a research note. The analyst continues to expect "strong" revenue and collections growth of 46% and 39%, respectively, as well as FY17 free cash flow to nearly double. The analyst keeps a Buy rating on Wix.com with an $86 price target.