Wix.com price target raised to $125 from $100 at Needham

Needham raised the firm’s price target on Wix.com to $125 from $100 and keeps a Buy rating on the shares after its Q4 earnings beat and outlook. The analyst cites the company’s better than expected margin guide for FY23, stating that while this represents a pull forward of assumptions laid out during the company’s analyst day, there is still upside in the firm’s model if Wix.com is able to reach their long-term target of 30% free cash flow margins.