Wix.com price target raised to $130 from $120 at Benchmark

Benchmark analyst Mark Zgutowicz raised the firm’s price target on Wix.com to $130 from $120 and keeps a Buy rating on the shares, telling investors that the “most significant takeaway” from Wix’s analyst day was an increase in its 2025 free cash flow margin target to 25% from 20%. The firm, which says it appreciates management’s committed stance to achieving this new raised profitability target regardless of the macro environment, expects realization of the company’s heightened free cash flow trajectory will support material multiple expansion.