Wix.com price target lowered to $245 from $260 at Benchmark

Benchmark lowered the firm’s price target on Wix.com (WIX) to $245 from $260 and keeps a Buy rating on the shares ahead of the company reporting Q1 earnings on Wednesday, May 21. The lack of tangibility around 2024 pricing contribution to ARPS growth presents “an optical hurdle” outside of new product incrementality, says the analyst, who looks for management to update the puts/takes to achieving the high-end of FY25 bookings and revenue guidance. The firm reduced estimates ahead of the report, the analyst noted.

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