Wix.com price target lowered to $210 from $245 at RBC Capital

RBC Capital lowered the firm’s price target on Wix.com (WIX) to $210 from $245 and keeps an Outperform rating on the shares. The company had a “mixed” Q1 print – Partner growth remains strong and the AI new product cadence continues, but the outlook also implies a back half guide down, and the firm believes that competitive fears for AI are re-surfacing given the daily rising profile of AI tools in the market, the analyst tells investors in a research note. RBC adds it has “rising questions” around the effects that an increasingly agentic web could have on this space.