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.