Wix.com (WIX) Stock Climbs After ‘Encouraging’ Analyst Day

NEW YORK (TheStreet) — Shares of Wix.com (WIX) are rising 4.11% to $29.10 on heavy trading volume on Thursday afternoon as several firms are bullish following the web development platform’s analyst day yesterday. Oppenheimer raised its price target on the stock to $37 from $32 and maintained its “outperform” rating after the “encouraging” event. The analyst day featured “product demos, marketing strategy and bullish long-term margin target (above our model). As the stock has rallied +37% quarter-to-date, trading near its 52-week high, we believe any pullback is an attractive buying opportunity,” the firm wrote in a note to investors. Tel Aviv-based Wix.com also launched Artificial Design Intelligence (ADI), a platform that gathers web content to auto-create tailored websites, Oppenheimer added. JPM Securities also upped its price target on the stock to…


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