Wix.com price target lowered to $220 from $250 at Oppenheimer

Oppenheimer analyst Ken Wong lowered the firm’s price target on Wix.com (WIX) to $220 from $250 and keeps an Outperform rating on the shares. The firm says cautious sentiment reflects potentially softer bookings commentary but durable free cash flow bolsters valuation. Oppenheimer sees Q1 revenue towards the top end of guide, with bookings above the Street with solid free cash flow flow-through. Wix should reiterate its FY25 revenue outlook, but the firm anticipates incremental bookings conservatism.