Wix launches new e-commerce services
- The Wix (NASDAQ:WIX) eCommerce solution provides customizable branded storefronts and carts, multi-channel sales, dropshipping, native payment processing via Wix Payments, analytics, and fulfillment and shipping capabilities.
- Customers can choose to extend the solution with Ascend by Wix, a CRM and marketing product suite, and Corvid by Wix, a web development platform.
- Citi analyst Nicholas Jones calls the announcement "favorable given the current macroeconomic backdrop and the accelerated trends benefiting eCommerce."
- Jones says the new services should help Wix compete with Shopify and fuel continued elevated demand.
- Citi maintains a Buy rating and $220 price target for Wix, which has a Bullish average Wall St. Analysts rating.
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Comments (1)
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WorkingJoe
30 Jun. 2020
So Citi has a buy rating and a $220 price target. So they suggest we buy Wix and lose $30/share? These analysts make no sense whatsoever! Hodl Wix to the moon!