Oppenheimer Reiterates Outperform Rating on Wix.com (WIX) Stock

Insider Monkey
07-09

Wix.com Ltd. (NASDAQ:WIX) is one of the Top 10 Stocks to Buy According to Lakehouse Capital. Oppenheimer reiterated an “Outperform” rating and a price objective of $220.00 on the company’s stock after the company announced a strategic partnership with Alibaba. This partnership is expected to offer Wix merchants access to Alibaba’s wholesale platform. It will also enable Alibaba sellers to build storefronts that are powered by Wix technology.

An engineer wearing virtual reality goggles programming the company's video cloud and software.

As per the firm, this arrangement is expected to be beneficial for Wix.com Ltd. (NASDAQ:WIX)’s premium subscriber counts and bookings growth, even though specific details related to co-selling strategies, prioritization, and financial terms are not yet disclosed. Even though Wix.com Ltd. (NASDAQ:WIX) has pivoted away from using multi-year bookings as the foundation of its Collection disclosures, there are expectations that the Alibaba partnership can be a significant factor in the company’s growth trajectory. The partnership is expected to take a phased rollout approach, with potential activation projected for H2 of the year, which could aid management’s expected acceleration in the latter part of the year.

As per Wix.com Ltd. (NASDAQ:WIX), the expected future features consist of AI-powered product discovery, automated onboarding processes, and intelligent product-matching tools. Notably, these innovations focus on simplifying and accelerating global commerce, mainly benefiting small and medium-sized enterprises. Munro Partners, an investment management firm, released its Q4 2024 investor letter. Here is what the fund said:

“Within the Digital Enterprise Area of Interest (AoI), both Wix and GoDaddy reported strong results for the quarter, with revenue, profit and free cash flows exceeding investors’ expectations. Both web builders’ management teams expressed confidence in their respective continued growth fuelled by new product features powered by AI innovations.”

While we acknowledge the potential of WIX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 13 Cheap AI Stocks to Buy According to Analysts and 11 Unstoppable Growth Stocks to Invest in Now

Disclosure: None. This article is originally published at Insider Monkey.

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