Oppenheimer Cuts Wix Price Target to $130, Sees 25% FCF Margin Floor
Oppenheimer analyst Ken Wong cut Wix.com’s price target to $130 from $160, citing compressed software multiples and mixed margin trajectory. The firm projects FY26 bookings and revenue slightly above consensus with free cash flow margins of at least 25%, and notes a newly authorized $2 billion buyback program.
1. Analyst Price Target Revision
Oppenheimer's Ken Wong lowered the price target from $160 to $130, citing compressed software multiples and mixed margin trajectory around core growth and Base44 initiatives.
2. FY26 Financial Outlook
The firm expects FY26 bookings and revenue slightly above consensus, with free cash flow margins at least 25% as a floor, reflecting cautious optimism on profitability.
3. $2 Billion Share Repurchase Program
Wix's board authorized a two-year, up to $2 billion share repurchase program through fiscal 2026–2027, to be funded via available cash, operational cash flow, or new debt or equity.
4. Product Launch and Investor Day Catalyst
Wix Harmony has been launched and management identifies the upcoming Investor Day as the next key catalyst to demonstrate product roadmap and growth drivers.