Barclays raised the firm’s price target on Wix.com (WIX) to $236 from $184 and keeps an Overweight rating on the shares. The firm says that while Wix.com reported another solid quarter, it had hoped self-creator “would be growing a bit faster by now.” However, partner and bossiness solutions both accelerated despite tough compares and the company’s free cash flow margin is quickly approaching 30%, the analyst tells investors in a research note. Barclays points out Wix is close to achieving $500M in free cash flow in 2024, a year ahead of the prior long-term guidance.
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