Wix.com price target lowered to $173 from $176 at Wells Fargo

Wells Fargo lowered the firm’s price target on Wix.com (WIX) to $173 from $176 and keeps an Equal Weight rating on the shares following quarterly results. The firm believes the stock reaction appears overblown, and says it is growing more constructive on the name. With FY25 bookings growth now reset to a more achievable level, Wells sees a positive setup ahead with an analyst day in the second half of the year and price increases likely in FY26.