JMP Securities analyst Andrew Boone reiterates Wix.com Ltd (NASDAQ: WIX) with a Market Outperform and a $130 price target.
The analyst attended Wix’s analyst happy hour in NYC with CEO Avishai Abrahami and CFO Lior Shemesh, believing that Wix can sustain low-teens growth driven by Partners.
Macro is still challenging but improving. Importantly, with Wix powering ~50% of new website builds, should macro rebound, it believes there is an upside to its analyst day guidance of ~13% compounded revenue growth to 2025.
While he views Wix as a relatively easy-to-use website builder, AI is accelerating this process, helping more self-creators finish sites and improving conversion. Additionally, Wix is enabling AI to recommend products, creating upsell opportunities.
With Wix building AI into every product, he believes there is the potential to increase efficiency across the business.
The most significant ...