Wix.com initiated with an Outperform at Scotiabank

Scotiabank analyst Nat Schindler initiated coverage of Wix.com (WIX) with an Outperform rating and $250 price target Wix is a website builder, operating on a software-as-a-service model, that helps clients create, manage, and build their digital presence, the analyst tells investors in a research note. The firm says the company is is essentially the operating system of small and medium-sized businesses. Scotiabank believes improving growth from artificial intelligence innovation, as well as compounding subscription growth and increased operating leverage, should drive free cash flow generation. Wix shares look very attractive going into 2025, the firm contends.