Wix.com price target raised to $187 from $143 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Wix.com to $187 from $143 and keeps an Equal Weight rating on the shares. Q1 revenue growth of 12.2% was about 50 basis points ahead of the Street view, while FY24 guidance was raised for revenue and bookings, notes the analyst, who views valuation as inline with SaaS peers and awaits clearer evidence of reaccelerating bookings to get more constructive.