Wix.com downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Alexei Gogolev downgraded Wix.com (WIX) to Underweight from Neutral with a price target of $91, down from $114. The firm says the investment case is diminishing due to signs of core business revenue growth deceleration. Wix.com’s margin improvement will be slower and more volatile than investors expect, the analyst tells investors in a research note. JPMorgan also believes the website and e-commerce management space faces structurally more technology-driven competition over the long term compared to other parts of its coverage.