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Investing.com - Piper Sandler has raised its price target on Wix.com (NASDAQ:WIX) to $210.00 from $206.00 while maintaining an Overweight rating on the stock. According to InvestingPro data, Wix currently trades at a P/E ratio of 62.5x and shows GREAT overall financial health, with analysts setting targets between $160 and $255.
The upgrade follows significant momentum in Wix’s Base44 acquisition, which has driven the company’s shares up over 50% since early August. Base44, part of the vibe coding segment, has shown stronger-than-expected performance beyond the initial guidance of $40-50 million in FY25 ARR. This growth complements Wix’s robust revenue growth of 13% in the last twelve months, with the company generating $1.87 billion in revenue.
According to Piper Sandler’s analysis, Base44 was generating approximately $400,000 of ARR per day as of late August, putting it on track to add around $50 million of incremental ARR through year-end. Current traffic data indicates Base44 traffic is approximately 30% higher than when this acceleration was first noted.
The research firm also observed a 7% increase in unique users for Base44, suggesting continued growth in the sales pipeline. Traffic trends indicate sustained momentum beyond initial projections.
Piper Sandler identifies three factors needed for another significant move in Wix shares: Base44 trending toward more than $100 million ARR in FY26, clarity on Base44’s profitability metrics, and addressing concerns about potential deceleration in Wix’s core business.
In other recent news, Wix.com announced the pricing of $1 billion in convertible senior notes due in 2030, an increase from the initially planned $750 million offering. This financial move is aimed at qualified institutional buyers and is set to settle by September 2025. On the analyst front, Citizens JMP raised its price target for Wix.com to $210, highlighting significant growth in website visits for Base44, a company Wix acquired in June 2024. RBC Capital also reiterated an Outperform rating with the same price target, emphasizing the potential of Wix’s vibe coding opportunity as a key growth driver. CFRA increased its price target to $200, maintaining a Buy rating based on strong projected revenue growth with a compound annual growth rate of 13% through 2026. Benchmark echoed a positive sentiment, maintaining a Buy rating with a higher price target of $230, noting Wix’s expansion into vibe coding technology through the Dazl platform. These developments reflect a strategic focus on growth, supported by analyst optimism about future revenue and technological advancements.
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