Fly News Breaks for November 15, 2019
Nov 15, 2019 | 07:14 EDT
RBC Capital analyst Zachary Schwartzman lowered his price target on Wix.com to $161 after its "mixed" Q3 results, as revenue and collections narrowly missed consensus while net subscriber growth topped expectations. The analyst sees the fundamentals for the quarter as "neutral", with revenue decelerating by 1pt to 26% and free cash flow margins trending flat. Schwartzman keeps his Outperform rating on Wix.com longer term thanks to its product initiatives, geographic expansion, and pricing power.
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