- Wix.com (WIX, Financial) shares increased by 4% following a Wells Fargo upgrade.
- Wells Fargo adjusted their rating to "Equal Weight," with a new price target of $176.
- Wall Street analysts foresee a potential 60.95% upside for Wix.com.
Shares of Wix.com (WIX) have risen by 4% following a crucial upgrade from Wells Fargo. The financial institution revised its rating for the online web development service to "Equal Weight," reflecting a confident stance that current risks have been appropriately factored in. As part of this upgrade, Wells Fargo also elevated the price target from a previous $169 to a more optimistic $176. Despite experiencing a significant 31% decline so far this year, this adjustment suggests a potential stabilizing of Wix.com's market position.
Wall Street Analysts Forecast
As per insights from 21 analysts offering one-year price targets for Wix.com Ltd (WIX, Financial), the average target is set at $247.20. This price target includes a high estimate of $300.00 and a low estimate of $169.00, indicating a broad range of expectations based on different market scenarios. Importantly, the average target suggests a significant potential upside of 60.95% from the current trading price of $153.59. For a deeper dive into these projections, further details are available on the Wix.com Ltd (WIX) Forecast page.
The consensus recommendation from 25 brokerage firms further supports a positive outlook for Wix.com Ltd (WIX, Financial). With an average brokerage recommendation of 2.0, Wix.com is currently viewed as an "Outperform" investment opportunity. The rating scale used by analysts ranges from 1 to 5, with 1 indicating a "Strong Buy" and 5 suggesting a "Sell."
In contrast, GuruFocus estimates reflect a more conservative perspective. The estimated GF Value for Wix.com Ltd in a year's time is projected at $122.18, implying a potential downside of 20.45% from the current price of $153.59. The GF Value is calculated by considering historical trading multiples, previous business growth patterns, and future business performance forecasts. To explore this estimate in more detail, visit the Wix.com Ltd (WIX, Financial) Summary page.
