Wix.com price target lowered to $135 from $160 at Cantor Fitzgerald

Cantor Fitzgerald analyst Deepak Mathivanan lowered the firm’s price target on Wix.com (WIX) to $135 from $160 and keeps an Overweight rating on the shares. Wix’s Q3 results beat revenue and bookings estimates but fell short on EBIT due to higher Base44 compute and marketing spend, with Q4 revenue guidance slightly accelerating and FY25 bookings raised, the analyst tells investors in a research note. While near-term margin and free cash flow growth may be pressured by these investments and a delayed AI self-creator launch, the medium-term ROI potential and Wix’s strong position in the AI-driven website builder market support a bullish long-term outlook at a compelling valuation, the firm says.