BUZZ-Wix.com rises after announcing equity investment

Reuters03-04 18:42

** Wix.com WIX.O shares gain 7.2% to $79.70 in premarket trading

** The web development platform announced a $250 mln equity investment led by Durable Capital Partners and provided a 2026 revenue growth outlook in the mid-teens percentage range

** Co's also posted Q4 revenue rose 14% y/y to $524 mln, slightly missing the consensus estimate of $527.82 mln, per data compiled by LSEG

** WIX stock has sunk about 28.4% year-to-date, underperforming the Nasdaq Composite Index's .IXIC 3.1% fall during the same period

** Wall Street's median price target is $147.21, implying ~98% upside from the stock's last close; 21 of 23 analysts rate the stock "buy" or "strong buy"

(Reporting by Niket Nishant in Bengaluru)

((Niket.Nishant@thomsonreuters.com))

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