Stock Track | Wix.com Plummets 5.13% Intraday Following Weak Q1 Results and Multiple Analyst Downgrades

Stock Track05-14 21:40

Wix.com's stock plummeted 5.13% during intraday trading on Thursday, as the market reacted negatively to the company's latest financial performance.

The sharp decline follows the release of Wix.com's downbeat first-quarter 2026 results, where the company reported quarterly revenue of $541.2 million, missing analysts' consensus estimate of $544.2 million. Adjusted earnings came in at 68 cents per share, significantly below expectations of $1.25 per share.

Multiple Wall Street analysts responded by downgrading the stock and slashing price targets. Wells Fargo downgraded Wix.com to Equal Weight from Overweight, citing a slowdown in core bookings. Citigroup downgraded the stock to Neutral from Buy, while RBC cut its rating to Sector Perform from Outperform. Several other firms including Barclays, UBS, Needham, and Raymond James also reduced their price targets on the company.

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