Wix.com Ltd. (NASDAQ:WIX) is one of the 10 technology stocks offering more than 50% upside.
On May 19, while retaining its Buy rating for Wix.com Ltd. (NASDAQ:WIX), Bank of America Securities reduced the price target on the stock from $95 to $77. This still results in an adjusted upside potential of more than 37%.
After hosting Wix’s CFO, Lior Shemesh, for a virtual meeting with investors, the firm reports that management emphasized forex pressure as the USD/Shekel becomes an obstacle during the second quarter, with greater risks expected in the latter half of the year. With WIX stock upside now modified to reflect that forex pressure, BofA has adjusted its estimates accordingly.
On May 14, Cantor Fitzgerald reaffirmed an Overweight rating on Wix.com Ltd. (NASDAQ:WIX) but reduced its price target from $110 to $70. The update followed the company’s recent quarterly report. The revenues and bookings met expectations, but the operating income fell short due to increased marketing expenses.
The firm noted that the core partner segment experienced a slowdown, and the Base44 division showed growth. Despite lowered free cash flow guidance and a subsequent drop in the share price, the firm considers the business a notable pick among the software stocks with compressed valuations.
Wix.com Ltd. (NASDAQ:WIX) is a cloud-based web development platform that allows registered users to manage and grow their online businesses through AI-enabled tools. The company offers various services such as Wix Editor, Wix Studio Velo by Wix, Wix App Market, Wix Marketplace, and more.
While we acknowledge the potential of WIX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. Follow Insider Monkey on Google News.