Wix.com initiated with an Outperform at Credit Suisse

Credit Suisse analyst Christopher Zhang initiated coverage of Wix.com with an Outperform rating and $105 price target. As a leading software-as-a-service content management system provider, Wix offers a compelling suite of no/low-code web development tools and has also built out a "robust suite" of business and commerce solutions, the analyst tells investors in a research note. The firm also believes Wix remains in the early days of benefitting from the intersection of software and payments.