Wix.com price target raised to $245 from $190 at RBC Capital

RBC Capital raised the firm’s price target on Wix.com (WIX) to $245 from $190 and keeps an Outperform rating on the shares. The company’s Q3 results were a “strong beat and raise” in terms of bookings and free cash flow, he analyst tells investors in a research note. Wix.com’s strong AI narrative continues to resonate and reconcile with the numbers, where the price increase is going better-than-expected and gives it strong visibility for further potential upside, RBC notes, adding that the company also continues finding leverage as its customer economics improve within subscription in particular.