Wix.com’s (WIX) Downslide Makes It An Attractive Buy

Core Insights - Wix.com Limited (NASDAQ:WIX) is identified as one of the 10 cheap stocks with significant upside potential, despite recent price target reductions by analysts [1] - The stock has experienced a 62% decline over the past year due to financial pressures related to the development of new AI tools, but has gained over 15% in the last three trading sessions following the announcement of a new AI website builder [2] - The newly launched AI website builder, 'Wix Harmony', allows users to create and edit enterprise-grade websites using natural language prompts, addressing previous limitations such as security vulnerabilities and basic design options [3] Price Target Adjustments - Citizens lowered its price target for Wix from $185 to $125, indicating a 41% upside potential from the current price [1] - Barclays also reduced its price target by $5 from $210, reflecting a cautious outlook while still acknowledging potential for growth [1] Product Development and Market Position - Wix Harmony enhances user experience by enabling the creation of visually appealing websites without compromising on scalability, security, reliability, and performance [3] - The company has transitioned from being known for simple drag-and-drop website builders to becoming a recognized brand in AI-driven website development [3]