Oppenheimer Reiterates Outperform Rating on Wix.com (WIX)
Oppenheimer analyst Ken Wong reiterated an Outperform rating and $250.00 price target on Wix.com (NASDAQ: WIX).
The analyst comments "Wix delivered solid 4Q results with bookings, revenue, and FCF ($464.6M/$460.5M/$133.7M) largely consistent with consensus estimates ($463M/$462M/$128M) driven by Studio, AI, Partners, pricing, and transactional strength (+23%). Partners continue to power growth (+29%), delivering 13% increase to ARPS and retention improvements to 106%. Higher revenue quality was offset by a decline in premium subscribers (72K) following the price increase and lapping B2B migrations from 2023. Wix introduced ex-Fx FY25 revenue and bookings guide, meeting investor expectations for mid-teens topline and low-teens bookings growth. FY25 FCF margin outlook (31-32% ex-Fx) was above consensus (28.5% margin). Management has proven their ability to execute, yet we expect some debate on the path to 2H bookings acceleration against a much tougher comp and no tangible catalyst (pricing)."
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Shares of Wix.com closed at $227.78 yesterday.