Wix.com price target lowered to $160 from $220 at Oppenheimer

Oppenheimer analyst Ken Wong lowered the firm’s price target on Wix.com (WIX) to $160 from $220 and keeps an Outperform rating on the shares. The company’s Q3 bookings and revenue growth accelerated on sustained new cohort momentum and Base44 outperformance, but investors were surprised by elevated AI costs and S&M investments to support Base44 after assuming management level-set spend, the analyst tells investors in a research note. The firm adds however that it remains positive on Wix.com’s improving core business, and what the firm expects to be one of the better AI monetization narratives entering FY26.