• Analysts slashed price targets on Wix.com Ltd post Q3 beat.
• Needham analyst Bernie McTernan maintained a Buy and lowered the price target from $265 to $250, implying a 32.2% upside.
• Barclays analyst Trevor Young lowered the price target to $210 from $220, implying an 11% upside, and maintained an Equal Weight rating.
• The analyst views the company's guidance as "soft."
• The Q4 revenue guide of up 18% year-over-year at the high end implies creative subs may come in at mid-teens growth, which would be the slowest in years.
• Piper Sandler analyst Clarke Jeffries lowered the price target to $218 from $252, implying a 15.3% upside, and reiterated a Neutral rating on the shares post the Q3 results.
• The analyst says "elongated uncertainty on macro factors" could weigh on the number of new businesses coming to Wix for commerce and presence functionality.
• Price Action: WIX shares traded higher by 1.89% at $192.71 in the premarket session on the last check Friday.