Piper Sandler analyst Clarke Jeffries upgraded Wix.com (NASDAQ:WIX) from Neutral to Overweight and raised the price target from $184 to $200.
As the growthiest asset in the Web Builder space historically, Wix has undergone one of the most significant transformations over the past two years, expanding free cash flow margins by 28pts in two years while growth has remained stable, Jeffries noted.
When the analyst downgraded earlier this year, near-term upside seemed contingent on growth outcomes above and beyond what he was willing to model.
Also Read: Wix’s Q2 Earnings: Revenue And Profit Beat, Strong Performance in Partner And Subscription Segments
The heart of that concern has stayed the same; Jeffries is still skeptical about some of the acceleration forecasted for the second half. However, from a valuation perspective, Wix stock today trades at parity to GoDaddy Inc (NYSE:GDDY) on calendar 2025 free cash flow, despite …
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