Wix.com price target raised to $130 from $120 at Needham

Needham raised the firm’s price target on Wix.com to $130 from $120 and keeps a Buy rating on the shares after its Q2 results and guidance raise. The company showed strong progression against their long-term margin goals reaching GAAP OI profitability and increasing its margin targets for the year, the analyst tells investors in a research note. Partner revenue continues to accelerate and Wix.com is leaning in on this opportunity, the firm adds.