Wix.com price target raised to $270 from $260 at Citi

Citi raised the firm’s price target on Wix.com to $270 from $260 and keeps a Buy rating on the shares as part of its 2025 internet outlook. After another strong year for internet stocks in 2024, Citi expects continued momentum, driven more by fundamentals than multiple expansion, the analyst tells investors in a research note. The firm says that while internet largely outperformed in 2024, it sees fundamentals as better positioned going into 2025, while multiples are “still reasonable, despite two years of re-rating.” Citi’s top picks for 2025 are Wix.com (WIX), Godaddy (GDDY), VeriSign (VRSN), Trade Desk (TTD), and Kaspi.kz (KSPI).