Wix.com (WIX) PT Raised to $185 at Jefferies

Jefferies analyst Brent Thill raised the price target on Wix.com (NASDAQ: WIX) to $185.00 (from $160.00) while maintaining a Buy rating.

The analyst comments "WIX extended the momentum from last 2 Qs into Q2, despite tougher comps. FY24 guide range was narrowed upward and still points to rev accel in FY25. Updated FY24 rev guide 12-13% growth combined with raised FCF mgn guide 26-27% results in Rule of 40 at the high end. Wix Studio bookings rose 20% q/q, and price increase benefits are ramping with no net negative side effects. CY25 EV/S is attractive at 4.6x vs. GDDY 5.2x and SQSP take-out 5.0x. Buy, PT to $185."

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