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Fly News Breaks for March 8, 2019
WIX
Mar 8, 2019 | 07:04 EDT
SunTrust analyst Naved Khan lowered his price target on Wix.com to $128 from $140 to reflect the 15% decline in the stock price over the past two weeks as well as the tempered investor expectations after the company's in-line outlook for 2019. The analyst maintains a positive outlook on its products and a Buy rating on the shares however, noting that the company's "underlying growth components implies very reasonable/achievable assumptions" for subscription and ARPU growth. Khan also sees rising adoption of Wix.com's Wix Code in Phase 1 and 2 creating room for additional upside to results.