B. Riley analyst Naved Khan lowered the firm’s price target on Wix.com (WIX) to $200 from $230 and keeps a Buy rating on the shares. Wix’s Q3 results beat expectations, but the stock fell nearly 20% due to near-term margin pressure from Base44 growth and increased marketing, the analyst tells investors in a research note. The margin trade-off is seen as necessary to scale a high-TAM business, while the core business remains strong with double-digit bookings growth, improving margins, and robust user and annual recurring revenue expansion.
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Read More on WIX:
- Wix.com price target lowered to $185 from $230 at Benchmark
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- Wix.com price target lowered to $150 from $197 at Citi
- Wix.com price target lowered to $184 from $216 at Wells Fargo
- Wix.com price target lowered to $210 from $235 at Barclays