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Investing.com - Oppenheimer has reiterated an Outperform rating and $220.00 price target on Wix.com (NASDAQ:WIX), currently trading at $164.03, following the company’s announcement of a strategic partnership with Alibaba (NYSE:BABA). According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $168 to $250.
The partnership will provide Wix merchants access to Alibaba’s wholesale platform while enabling Alibaba sellers to build storefronts powered by Wix technology.
Oppenheimer views the arrangement as potentially beneficial for Wix’s premium subscriber counts and bookings growth, though specific details regarding co-selling strategies, prioritization, and financial terms have not yet been disclosed.
The partnership will follow a phased rollout approach, with potential activation expected in the second half of the year, which could support management’s projected acceleration in the latter part of the year.
While Wix has shifted away from using multi-year bookings as the foundation of its Collection disclosures, the Alibaba partnership could become a significant factor in the company’s growth trajectory.
In other recent news, Wix.com Ltd and Alibaba.com have announced a strategic partnership aimed at expanding the global reach of small and medium-sized enterprises. This collaboration will enable Wix merchants to become Global Gold Suppliers on Alibaba.com and allow Alibaba.com sellers to create storefronts using Wix’s platform. The partnership is set to facilitate trade across over 200 countries and regions, with future enhancements planned, including AI-powered product discovery and intelligent product-matching tools. Additionally, Wix has been active in acquisitions, acquiring Base44 to bolster its AI capabilities, following its recent purchase of Hour One. JMP Securities reiterated its Market Outperform rating for Wix, maintaining a $250 price target, highlighting Wix’s focus on AI integration. Barclays (LON:BARC) also maintained its Overweight rating with a $240 price target, noting Wix’s pattern of smaller acquisitions. Meanwhile, Cantor Fitzgerald upheld its Overweight rating and $200 price target, despite growth concerns, citing potential for bookings growth acceleration in the latter half of 2025. These developments reflect Wix’s strategic moves to enhance its offerings and maintain growth momentum.
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