Wix.com price target raised to $160 from $143 at Oppenheimer

Oppenheimer analyst Ken Wong raised the firm’s price target on Wix.com to $160 from $143 and keeps an Outperform rating on the shares after management “positively surprised” with FY24 revenue and free cash flow guidance that came in “well ahead of expectations.” Accelerating topline momentum in FY24 positions Wix to exceed FY24 targets presented at the August 2023 analyst day, the analyst contends.