5 ‘Strong Buy’ Tech Stocks At Steep Discounts

Web-building platform Wix (WIX – Research Report) has just released its third quarter earnings report. Results for the quarter came in slightly ahead of consensus largely driven by a price hike and third-party applications. However, fourth-quarter guidance was a tick below consensus.

Following the print, five-star Jefferies analyst Brent Thill (Track Record & Ratings) reiterated his Buy rating on the stock. Due to the reduced guidance, he dropped his price target from $133 to $122. Given recent share weakness, that still indicates substantial upside potential of 40 percent.

“The risk/reward remains favorable as WIX capitalizes on a multi-year opportunity to sustain high growth within a $13B TAM with less than 5% penetration” Thill wrote on November 14.

This is a company that is rapidly evolving into a full-service cloud platform for smaller businesses. New products like Wix Code and Wix Payments, hold upside potential for the next year and should boost the stock’s promising growth trajectory.

His conclusion “Add to positions on weakness.” Thill cites multiple upside levers to a conservative 2019 growth outlook that could push revenue past the $1B mark within three years.

Overall, Wix has received five recent ratings from the Street, all of which are a ‘Buy’.

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Disclaimer: TipRanks is an independent cloud based service that measures and ranks digitally published financial advice. TipRanks' natural language processing (NLP) algorithms aggregate and ...

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