Wix.com granted court approval to extend $200M share buyback » 11:1606/1506/15/21
Wix.com received court…
Wix.com received court approval for its motion to extend the right to repurchase up to $200M of its securities which expires on June 30, 2021, until December 31, 2021. As previously disclosed, the company intends to continue filing extension requests on an ongoing basis as required. Subject to approval by the Israeli courts, under the board authorized program, Wix.com securities may be repurchased from time to time in open market transactions at prevailing market prices.
Wix.com announces acquisition of Modalyst » 09:0806/1506/15/21
Wix announced the…
Wix announced the acquisition of Modalyst, a leading marketplace and dropshipping platform. The acquisition will continue extending the Wix eCommerce platform and contribute to the success of businesses on Wix, connecting Wix merchants to a vast supplier marketplace where they can create lasting, scalable relationships and source millions of high-quality products synced directly to their store to sell and fulfill online.
Chipotle, Wendy's upgrades among today's top calls on Wall Street » 10:0606/1406/14/21
CMG, WEN, RIDE, RACE, CAKE
Check out today's top…
Fly Intel: Top five analyst upgrades » 09:5306/1406/14/21
CMG, CRSP, WEN, WELL, CQP
Catch up on today's…
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Chipotle (CMG) upgraded to Strong Buy from Outperform at Raymond James with analyst Brian Vaccaro saying the recently announced menu price increases of 4% in recent weeks with more coming in the fall create "significant upside" to second half of 2021 consensus comp expectations. 2. Crispr Therapeutics (CRSP) upgraded to Neutral from Sell at Citi with analyst Yigal Nochomovitz saying it is becoming increasingly clear that CTX001 is demonstrating consistent durable increases in fetal hemoglobin that are yielding prolonged therapeutic benefit on transfusion-independence in beta-thalassemia and freedom from vaso-occlusive crisis in sickle-cell. 3. Wendy's (WEN) upgraded to Buy from Neutral at Northcoast with analyst Jim Sanderson saying channel checks are "just as compelling as ever" and indicate that Wendy's current performance is exceeding expectations. 4. Welltower (WELL) upgraded to Outperform from In Line at Evercore ISI with analyst Steve Sakwa citing improving SH operations, a better acquisition outlook and the potential for long-term margin expansion with the recent hiring of John Burkart. 5. Cheniere Energy Partners (CQP) upgraded to Buy from Neutral at Goldman Sachs with analyst Michael Lapides citing recent underperformance, its defensive and largely contracted asset base that offers visibility into stable cash flows and upside to consensus from tailwinds to Cheniere Energy Partners' commodity margins from global natural gas prices. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Wendy's upgraded to Buy from Neutral at Northcoast » 06:5906/1406/14/21
Northcoast analyst Jim…
Northcoast analyst Jim Sanderson upgraded Wendy's to Buy from Neutral with a $30 price target, reversing the analyst's downgrade to Hold on June 9. The stock declined last week despite no change to the company's fundamentals, Sanderson tells investors in a research note. Channel checks are "just as compelling as ever" and indicate that Wendy's current performance is exceeding expectations, says the analyst. Sanderson believes that even as Wendy's laps the most volatile same-store sales quarter from last year's shut-down, its average weekly sales are "as high as ever."
Wix.com price target raised to $315 from $300 at RBC Capital » 06:3206/1406/14/21
RBC Capital analyst Brad…
RBC Capital analyst Brad Erickson raised the firm's price target on Wix.com to $315 from $300 and keeps an Outperform rating on the shares. The analyst is citing positive checks that found "improvement" with U.S. agencies that drive web design and E-commerce platform selection, stating that the agency awareness of Wix.com's up-market plans is rising as its scalability relative to competitors proves to be "differentiated". Erickson adds that Wix.com is an "underappreciated" play on e-commerce representing the majority of addressable market expansion.
Wendy's estimates raised on increasing momentum at Piper Sandler » 06:1206/1406/14/21
Piper Sandler analyst…
Piper Sandler analyst Nicole Miller Regan says her domestic checks for May indicated that Wendy's same-store sales remain in the positive mid-teens percent range, driven in part by menu innovation efforts and the new loyalty program. : The company is continuing to drive awareness and usage of the new breakfast daypart, drive digital sales, and capture an increasing percentage of sales as consumer mobility rebounds via new product news and strong store-level operational execution, Miller Regan tells investors in a research note. She raised estimates for Wendy's to reflect its increasing momentum and reiterates an Overweight rating on the shares with a $27 price target.
Squarespace initiated with a Sector Perform at RBC Capital » 06:1206/1406/14/21
SQSP, SHOP, WIX
RBC Capital analyst Brad…
RBC Capital analyst Brad Erickson initiated coverage of Squarespace (SQSP) with a Sector Perform rating and $62 price target. The company is one of the few leading players in CMS and web design market estimated at about $60B and increasing to $130B by 2025, the analyst tells investors in a research note. Erickson adds however that his channel with agencies for Squarespace were mixed with unlikely upside in up-market E-commerce channels relative to competitors like Shopify (SHOP) and Wix.com (WIX).
Squarespace initiated with a Buy at Goldman Sachs » 04:4606/1406/14/21
Goldman Sachs analyst…
Goldman Sachs analyst Christopher Merwin initiated coverage of Squarespace (SQSP) with a Buy rating and $90 price target. While there are a number of competitors in the $150B web design tools end market, Squarespace has "historically differentiated itself through high quality product design and ease of use," Merwin tells investors in a research note. The company's closest comp, Wix.com(WIX), is trading at a premium to Squarespace on enterprise value to sales, despite structurally lower gross margins and similar sales growth, adds the analyst. As such, he sees an attractive entry point for Squarespace shares.
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Short Report: Betting against AMC wanes while Workhorse bears spike » 15:2706/1106/11/21
AMC, CLOV, WEN, BBBY, BYND, KURA, WKHS, FNV, PNM, EPIX
Welcome to this week’s…