Wix.com downgraded to Neutral from Outperform at Baird (earlier)

Baird analyst Vikram Kesavabhotla earlier today downgraded Wix.com (WIX) to Neutral from Outperform with a price target of $90, down from $115. The firm finds Wix’s potential upside as less attractive following the stock’s recent rally. Management is taking some “compelling steps” that could benefit the business long term, but incremental investor appetite will be limited for now as the company navigates a year of investments in fiscal 2026, the analyst told investors in a research note.