Benchmark has increased its price target for Wix.com to $110 from $90, maintaining a buy rating on the shares. The adjustment follows the company's second-quarter earnings release on August 4, during which Wix reported adjusted earnings per share of $1.59, exceeding the $1.16 estimate, and revenue of $563.1 million, above the $556.0 million forecast.
The stock has gained approximately 50% since the Q2 results, trading at $86.06 at the time of the latest analysis. Shares had previously traded around $59 on July 29, when Base44's enterprise value was estimated at $850 million, or 0.4 times projected 2026 revenue excluding Base44. The company's bookings grew 12% year-over-year, while adjusted free cash flow reached $61 million, surpassing the $36 million market estimate.
Benchmark's valuation multiple for Wix's core business remains at 12.5 times enterprise value over annual recurring revenue, with the total enterprise value relative to estimated 2026 adjusted free cash flow at 2.0 times. Cantor Fitzgerald also raised its price target to $80, maintaining an overweight rating, while Evercore ISI adjusted its target to $95 from $120, keeping an outperform rating.
Wix launched its Symphony product last week, positioning the platform more competitively against vibe-coding website builders and large language models. The company's recent performance has been driven in part by increased demand for its artificial intelligence offerings. Market capitalization stands at $3.6 billion, with shares up 20.68% over the past six months.
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