Wix.com price target raised to $165 from $117 at Seaport Research

Seaport Research raised the firm’s price target on Wix.com to $165 from $117 and keeps a Buy rating on the shares. The company reported relatively in line Q4 revenue with operating income upside driven by improved gross margins and lower spending, the analyst tells investors in a research note. The firm says solid expense discipline is driving meaningful free cash flow margins expansion and should lead to over $500M or $7.50-plus in free cash flow per share in 2025.