Wix.com price target raised to $255 from $250 at UBS

UBS raised the firm’s price target on Wix.com (WIX) to $255 from $250 and keeps a Buy rating on the shares. Wix’s fiscal 2024 were 1% above the high end of its initial bookings guide and in-line with the high end of its initial revenue guidance, the analyst tells investors in a research note. While it is hard to defend a back-half loaded top-line guide when the scope for margin expansion appears less promising vs. 2023-2024, UBS likes that Wix is assuming almost no contribution from new products in its FY25 guidance and is pushing to use AI in its care organization.