Wix.com jumps after FY revenue, bookings forecast raise
Updates
** Wix.com's WIX.O sharesjump 15.8% to $212.18, hitting more than three-year high of $213.86 earlier in session
** Co raises FY revenue forecast to $1.757 bln - $1.764 bln, or 13% y/y, after raising it to $1.747 bln -$1.761 bln in Q2
** WIX lifts FY bookings forecast to $1.822 bln - $1.832 bln, or 14-15% y/y growth, vs $1.802 bln - $1.822 bln, or 13-14% y/y growth, earlier
** Expects Q4revenue of $457 mln - $464 mln
** Co's Q3 adj. EPS of $1.50 beat est.of $1.43 - LSEG data
** Bookings growth benefited from Studio subscriptions accelerating meaningfully q/q as result of new purchase strength and robust renewal activity , CEO Avishai Abrahami says
** J.P. Morgan raises PT to $205 from $195; says it keeps relative "neutral" rating
** Jefferies raises PT to $225 from $185
** Avg. rating of 23 brokerages is "buy"; median PT is $200 - LSEG data
** Including session's move, WIX up 72.5% YTD
Reporting by Sukriti Gupta in Bengaluru
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