Wix.com assumed with a Neutral at Piper Sandler

Piper Sandler analyst James Callahan last night assumed coverage of Wix.com (WIX) with a Neutral rating and $98 price target While the company’s Base44 acceleration “is impressive,” its margin trajectory is unclear, the analyst tells investors in a research note. Piper thinks a main driver behind the recent Base44 acceleration is paid YouTube ads. The firm believes core Wix customers are more at risk for AI-driven organic traffic headwinds.