Wix.com target raised, removed from ‘Tactical Outperform’ list at Evercore ISI

Evercore ISI analyst Robert Coolbrith raised the firm’s price target on Wix.com (WIX) to $250 from $210 and keeps an Outperform rating on the shares following what the firm describes as a “Beat and Raise Q3 EPS result.” The firm, which notes free cash flow margin reached a record 29% and thinks it “appears poised for further expansion, supporting the firm’s outlook for about a 20% free cash flow growth CAGR through 2026, reiterates an Outperform rating on the shares, but closed out its “TAP Outperform Call” and removed the stock from the firm’s “Tactical Outperform” list.