Wix.com price target lowered to $160 from $250 at Evercore ISI

Evercore ISI analyst Robert Coolbrith lowered the firm’s price target on Wix.com (WIX) to $160 from $250 and keeps an Outperform rating on the shares following what the firm calls a “mixed Q3 and guide.” While the level of investment the company laid out was “clearly out of step with investor expectations,” the firm is encouraged by strength in the core business and believes that Base44 remains “a compelling offensive/defensive opportunity,” says the analyst, who cites both the downdraft in the stock’s valuation in recent months and the firm’s lower FY27 EBITDA and free cash flow forecasts for the firm’s revised target.