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Fly News Breaks for June 6, 2018
WIX
Jun 6, 2018 | 05:27 EDT
Those looking for a guidance increase at Wix.com's analyst day yesterday likely walked away disappointed, but the CEO did set a goal of 1B registered users, up from the current 130M, JPMorgan analyst Sterling Auty tells investors in a research note. The analyst calls the new goal ambitious goal as he thought the real addressable market is more like 300M-400M users. He appreciates, however, the CEO anecdote about how younger generations think of themselves as brands and could look to promote themselves in different ways including a website, which expands Wix.com's market. Auty keeps a Neutral rating on Wix.com with a $75 price target.
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