Raymond James Upgrades Wix.com (WIX) to Strong Buy

Raymond James analyst Josh Beck upgraded Wix.com (NASDAQ: WIX) from Outperform to Strong Buy with a price target of $300.00 (from $225.00).

The analyst commented: "We upgrade our rating on WIX to Strong Buy (from Outperform) and raise our price target to $300 (from $225) reflecting increased conviction in Wix Studio winning market share among partners/agencies from incumbent WordPress (WP Engine legal drama here) that should help drive a dual acceleration in growth and profitability (RJ estimates Partner FCF margin close to 0% in 2023 and estimates 2024 potentially in high-teens) potentially setting up a multi-year path to a mid-40s RoF with Partners potentially more than 50."

For an analyst ratings summary and ratings history on Wix.com click here. For more ratings news on Wix.com click here.

Shares of Wix.com closed at $240.89 yesterday.

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