Benchmark raised its price target on Wix.com (NASDAQ: WIX) to $110 from $90 on Tuesday, maintaining a Buy rating as the company’s valuation outlook improved following its second-quarter results. The stock last traded at $86.06, up about 50% since the July 29 earnings report and roughly 20.7% over the past six months.
Cantor Fitzgerald also lifted its target to $80 from $70 while keeping an Overweight rating, while Evercore ISI trimmed its target to $95 from $120 but retained an Outperform rating. Wix reported adjusted EPS of $1.59, beating the $1.16 estimate, and revenue of $563.1 million, ahead of the $556.0 million forecast. Bookings grew 12% year-over-year, and adjusted free cash flow reached $61 million, surpassing the Street’s estimate of $36 million.
Benchmark’s upgrade reflects a higher core valuation for Wix, excluding its Base44 unit, which it now values at about $850 million, or 0.4 times estimated 2026 revenue. Base44’s valuation multiple stands at 12.5 times enterprise value to annual recurring revenue, aligning with its closest vibe-coding peer Emergent. The combined enterprise value of Wix now represents 2.0 times the 2026 adjusted free cash flow estimate, according to the firm’s analysis.
The upgrades follow Wix’s Q2 earnings release on August 4 and last week’s introduction of Symphony, a platform positioning the company against pure-play vibe-coding and LLM-based site builders. The stock has climbed from around $59 in late July to its current level, reflecting renewed investor interest in the company’s growth trajectory and valuation reset.
