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Analysts Upgrade Wix (WIX) After Share Repurchase News
Yahoo Finance· 2026-01-30 20:40
Group 1 - Wix.com Ltd. has announced a $2 billion share repurchase program to capitalize on its declining share price over the past year [1] - Morgan Stanley analyst Elizabeth Porter reiterated a Buy rating on Wix.com while lowering the price target from $181 to $160, which still offers an attractive upside of around 100% from current levels [1][3] - Citi also maintained a Buy rating with a price target of $150, implying an 87% upside from current levels, consistent with the median Wall Street analyst estimate of 99.6% [3] Group 2 - The Application Software-as-a-Service sector has underperformed compared to the overall technology sector and broader software sector in 2025, but there is a more constructive outlook for these stocks heading into 2026 [2] - Analysts suggest that the stock slump has made Wix.com an attractive investment opportunity on a forward P/E basis, indicating significant upside potential [3] - Wix.com offers a cloud-based web development platform with various tools and services for users and creators worldwide [4]