B. Riley analyst Naved Khan lowered the firm’s price target on Wix.com (WIX) to $230 from $240 and keeps a Buy rating on the shares following the Q1 results. Wix.com continues to see strong demand trends, with Partner Channel benefiting from the popularity of Studio and AI enhancements driving DIY growth, while Q2-to-date trends have remained healthy, the analyst tells investors in a research note. The company’s track record of product innovation and the recent launches position the business for sustained share gains and healthy growth in bookings and free cash flow, the firm says.
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