Wix.com price target lowered to $185 from $210 at Citizens JMP

Citizens JMP lowered the firm’s price target on Wix.com (WIX) to $185 from $210 and keeps an Outperform rating on the shares. Wix reported mixed results as bookings and revenue both came in 1% above consensus, the analyst tells investors in a research note. Base44’s strong product-market fit makes the timing of a growth slowdown, and thus when Wix can ease investment, difficult to predict, which is a positive challenge, but complicates the near-term shift Wix has been making toward margin expansion and free cash flow optimization since Starboard’s involvement in 2022, the firm says.