WIX: Guidance Update & Management Group Investor Call Takeaways

研报英文原文证据摘录

WIX: Guidance Update & Management Group Investor Call Takeaways

Equity Research

Earnings Revised — June 8, 2026

Internet

Wix.com Ltd

Guidance Update & Management Group Investor Call Equal Weight

Takeaways Price Target: $47.00

Notable Changes

Our Call $ (Dec) Current Prior % Chg

We hosted a group investor call w/mgmt after WIX announced $150M annualized Price Target $47.00 $54.00 -13.0%

RIF savings & reduced FY26 bookings guide from mid to low-teens. Mgmt reiterated EBIT (MM) 2026 268.1 221.0 21.3%

confidence in Harmony + Base44, but stock likely in penalty box until partner biz EPS 2026 (2.97) (3.17) 6.3%

stabilizes.

Ticker WIX

Prior to market open, WIX reduced FY26 bookings / revenue guidance by $50M / Upside/(Downside) to Target (2.5)%

$25M, while quantifying RIF (1,000 employees) non-GAAP savings at $70M / $150M Price (06/08/2026) $48.21

in 2026 / annualized. Press release noted that bookings guidance reduction a function of

52 Week Range $47.46 - 190.93

continued partner bookings deceleration subsequent to 1Q earnings on 05/13, in addition

to anticipated disruption as a result of the RIF. Excluding restructuring cost ($30 - 35M Market Cap (MM) $2,717

GAAP in 2Q, cash outflow in 2H), net impact leaves FY26 FCF $20M higher. Enterprise Value (MM) $3,394

Average Daily Value (MM) $127

WIX remains committed to partner business despite macro headwinds; product Dividend Yield 0.0%

improvements key in addressing recent bookings growth challenges. Mgmt noted

that SEO traffic to smaller agencies is under pressure, suggesting that recent bookings $ (Dec) Q1 Q2 Q3 Q4 FY

challenges are driven at least in part by macro / industry trends (AI obfuscating smaller EBIT (MM)

agency value proposition).