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Investing.com - Citizens JMP has raised its price target on Wix.com (NASDAQ:WIX) to $210.00 from $200.00 while maintaining a Market Outperform rating. According to InvestingPro data, Wix currently trades at $184.24, with analyst targets ranging from $160 to $255.
The firm cited strong growth in Base44 website visits since Wix acquired the company in June 2024, leading to increased collections and revenue estimates for 2026 and 2027.
Despite the positive outlook on revenue, Citizens JMP expects Wix to make incremental investments to support Base44’s growth, resulting in slightly lower free cash flow estimates.
The research firm views AI development services as addressing a different market need compared to Wix’s core website building functionality, suggesting Base44 represents incremental demand potential.
Citizens JMP believes this acquisition can help expand Wix’s market opportunity over time, supporting the decision to raise the price target while maintaining the Market Outperform rating.
In other recent news, Wix.com announced the pricing of $1 billion in convertible senior notes due 2030, an increase from its initial plan to offer $750 million. The zero-coupon notes are set to mature on September 15, 2030, and the transaction is expected to settle on September 11, 2025. On the analyst front, RBC Capital reiterated an Outperform rating for Wix.com, highlighting the company’s focus on growth driven by its vibe coding opportunity. CFRA also raised its price target for Wix.com to $200, maintaining a Buy rating due to strong revenue growth projections. Benchmark echoed this sentiment by reiterating a Buy rating with a price target of $230, emphasizing Wix’s expansion into vibe coding technology through the launch of Dazl. This new platform, led by Wix co-founder Nadav Abrahami, was backed by a $10 million seed round and includes former TikTok executive Assaf Sagy as a co-founder. These developments reflect a strategic focus on innovative technologies and financial maneuvers to bolster future growth.
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