Buy this beat-down internet stock whose shares can rally more than 20%, Baird says
Investors should buy the dip on Wix.com , according to Baird. Analyst Vikram Kesavabhotla upgraded the web development platform's shares to outperform. While Kesavabhotla trimmed his price target by $25 to $190, the refreshed target still suggests upside of 22.6% over Thursday's close. Kesavabhotla's call comes amid a rough patch for shares. Wix.com has fallen more than 27% this year, while the S & P 500 has slipped less than 1% over the same period. "We think this has provided an attractive entry point into a high quality business that continues to enhance its offering," Kesavabhotla said of the stock's recent underperformance in a Thursday note to clients. Beyond the product itself improving, Kesavabhotla said expectations for the company now appear to be "more reasonable" following its first-quarter earnings report. He said the release helped ease concerns tied to Wix.com's ability to meet guidance for the 2025 fiscal year. Looking more broadly, Kesavabhotla also said the company has several "attractive" long-term drivers for its investment case. With the upgrade, Kesavabhotla joined the majority of analysts polled by LSEG with a buy-equivalent rating. WIX YTD mountain Wix.com, year to date
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