Wix.com price target raised to $130 from $114 at JMP Securities

JMP Securities analyst Andrew Boone raised the firm’s price target on Wix.com to $130 from $114 and keeps an Outperform rating on the shares. Channel checks reinforce the view that Wix’s analyst day revenue targets appear achievable, and given its cost discipline that should continue, there is a clear path to $7.50 per share of free cash flow in 2025, the analyst tells investors in a research note. The firm expects the shares to rerate, saying Wix is one of its highest conviction ideas today as Studio can drive Partner revenue growth.