This morning, Needham maintained their Buy rating on Wix.com’s stock with a price target of $200.00.

Based on the provided documents, Needham’s decision to maintain a Buy rating on Wix.com’s stock with a price target of $200.00 can be confidently explained by the following points:

Strong Financial Performance and Growth Prospects: Wix.com has shown a robust financial performance, notably increasing its Free Cash Flow (FCF) guidance during its second quarter earnings, which drove Needham’s FCF estimates higher and prompted an increase in the price target from $190 to $200. This financial strength is further supported by Wix’s product-driven growth cycle, highlighted by the launch of WIX Studio, which has already led to an acceleration in bookings. This success indicates potential for broad revenue acceleration and continued FCF margin expansion into 2025, demonstrating Wix’s strong growth prospects.
Expanding Market Position Through Partnerships and Product Enhancements: Wix.com is actively enhancing its competitive position in the market for both partners and self-creators. The introduction of new products, such as additional no-code design tools and a Figma plug-in, alongside the expansion of Wix Studio, has outpaced expectations. The company’s efforts in rolling out new AI capabilities and a mobile app builder further its appeal to a wide range of users. This broadening of its product offerings, combined with a successful partner platform that is attracting larger merchants and driving higher transaction revenue, solidifies Wix’s market position and supports sustainable growth.

Cantor Fitzgerald Deepak Mathivanan 63% 1-year accuracy 15 / 24 met price target	23%upside $200	Overweight Reiterated	23 Sept 2024
Piper Sandler Clarke Jeffries 57% 1-year accuracy 25 / 44 met price target	23%upside $200	Overweight Upgraded	23 Sept 2024
Cantor Fitzgerald Deepak Mathivanan 63% 1-year accuracy 15 / 24 met price target	23%upside $200	Overweight Initiated	5 Sept 2024
Piper Sandler Clarke Jeffries 57% 1-year accuracy 25 / 44 met price target	13%upside $184	Neutral Maintained	8 Aug 2024
Barclays Trevor Young 65% 1-year accuracy 13 / 20 met price target	15%upside $186	Overweight Maintained	8 Aug 2024

WIX.comWIX

Fund manager confidence

14% more capital invested

14% more call options, than puts

10% more funds holding in top 10

8% less first-time investments, than exits

1% less funds holding

1.21% less ownership

17% less repeat investments, than reductions

Research analyst outlook

10 analyst ratings

Financial journalist opinion

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