Analysts slashed price targets on Wix.com Ltd. post Q3 beat. Needham analyst Bernie McTernan maintained a Buy and lowered the price target from $265 to $250, implying a 32.2 percent upside. Barclays analyst Trevor Young lowered the price target to $210 from $220, implying an 11 percent upside, and maintained an Equal Weight rating. The…
B2B Partners, User Additions Drive Wix.com’s Q3 Beat, Raises FY21 Revenue Outlook
Wix.com Ltd. reported third-quarter FY21 revenue growth of 26 percent year-on-year to $320.8 million, beating the consensus of $315.2 million. Segments Creative Subscriptions revenue increased 19 percent Y/Y to $241.3 million. The Creative Subscriptions collections climbed 28 percent Y/Y to $292.7 million. Creative Subscriptions ARR as of the end of Q3 was $992.3 million, up…
Hong Kong Police Tell Foreign Hosting Firm to Remove Website
LONDON—A Hong Kong pro-democracy website was temporarily taken down after police warned the Israel-based hosting company that it breached a national security law, highlighting concerns about actions by authorities in the Chinese city to muzzle online dissent abroad. Nathan Law, a Hong Kong opposition leader based in the U.K., tweeted Thursday that the hosting company,…
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