Wix.com initiated with an Underweight at Wells Fargo

Wells Fargo initiated coverage of Wix.com (WIX) with an Underweight rating and $208 price target The firm believes price increases are a meaningful contributor to the company’s acceleration in creative subscription bookings. As a result, Wells sees risk to consensus estimates as the contribution from price wanes. Wix.com’s fundamentals are improving “to some extent,” but the pace of improvement will slow as the company laps price increases in 2025, the analyst tells investors in a research note.