Analyst Elizabeth Porter of Morgan Stanley maintained a Buy rating on Wix (WIX – Research Report), retaining the price target of $276.00.
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Elizabeth Porter has given her Buy rating due to a combination of factors that highlight Wix’s strong financial outlook. One key reason is Wix’s FY25 bookings guidance, which exceeded expectations with a 13-15% year-over-year growth in constant currency. This positive outlook is driven by the increased use and conversion of AI technologies and benefits from their Studio platform, coupled with a stable demand environment. These elements are expected to drive further growth momentum for the company.
Another factor influencing the Buy rating is Wix’s progress towards achieving the Rule of 45, as shown by their FY24 performance and FY25 projections. With revenue growth anticipated to be between 12-14% and free cash flow margins estimated at 30-31%, Wix is positioned to maintain strong financial health. These indicators suggest that Wix is on a promising trajectory, making the stock an attractive investment opportunity.
According to TipRanks, Porter is a 3-star analyst with an average return of 1.7% and a 48.53% success rate. Porter covers the Technology sector, focusing on stocks such as Autodesk, GoDaddy, and Wix.
In another report released today, Bank of America Securities also reiterated a Buy rating on the stock with a $270.00 price target.