Analysts Adjust Price Target On Wix.com - Read Why - Wix.com (NASDAQ:WIX)

Analysts slashed price targets on Wix.com Ltd WIX post Q3 beat.
Needham analyst Bernie McTernan maintained a Buy and lowered the price target from $265 to $250, implying a 32.2% upside.
Barclays analyst Trevor Young lowered the price target to $210 from $220, implying an 11% upside, and maintained an Equal Weight rating.
The analyst views the company's guidance as "soft."
The Q4 revenue guide of up 18% year-over-year at the high end implies creative subs may come in at mid-teens growth, which would be the slowest in years.
Piper Sandler analyst Clarke Jeffries lowered the price target to $218 from $252, implying a 15.3% upside, and reiterated a Neutral rating on the shares post the Q3 results.
The analyst says "elongated uncertainty on macro factors" could weigh on the number of new businesses coming to Wix for commerce and presence functionality.
Price Action: WIX shares traded higher by 1.89% at $192.71 in the premarket session on the last check Friday.

Analysts Adjust Price Target On Wix.com - Read Why