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Wix launches new e-commerce services

Jun. 30, 2020 11:09 AM ETWix.com Ltd. (WIX)WIXBy: Brandy Betz, SA News Editor1 Comment
  • 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 profile picture
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!
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