Analysts Adjust Price Target On Wix.com - Read Why

  • Analysts slashed price targets on Wix.com Ltd WIX post Q3 beat.
  • Needham analyst Bernie McTernan maintained a Buy and lowered the price target from $265 to $250, implying a 32.2% upside.
  • Barclays analyst Trevor Young lowered the price target to $210 from $220, implying an 11% upside, and maintained an Equal Weight rating.
  • The analyst views the company's guidance as "soft." 
  • The Q4 revenue guide of up 18% year-over-year at the high end implies creative subs may come in at mid-teens growth, which would be the slowest in years.
  • Piper Sandler analyst Clarke Jeffries lowered the price target to $218 from $252, implying a 15.3% upside, and reiterated a Neutral rating on the shares post the Q3 results. 
  • The analyst says "elongated uncertainty on macro factors" could weigh on the number of new businesses coming to Wix for commerce and presence functionality.
  • Price Action: WIX shares traded higher by 1.89% at $192.71 in the premarket session on the last check Friday.
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