Wix.com price target lowered to $169 from $194 at Wells Fargo

Wells Fargo lowered the firm’s price target on Wix.com (WIX) to $169 from $194 and keeps an Underweight rating on the shares. The firm says it bridges the Q4 to Q1 anticipated bookings deceleration, concluding it’s explained by pricing, 1-time payments and F/X, not underlying pressure. Still, from a slower Q1 with tougher second half of the year comparable sales, Wells sees the FY25 bookings guide as an upside, rather than base case.