11 Best Tech Stocks to Buy On the Dip

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2. Wix.com Ltd. (NASDAQ:WIX)

Year-to-Date Performance: -31.14%

Analyst Upside Potential: 54.26%

Number of Hedge Fund Holders: 50

Wix.com Ltd. (NASDAQ:WIX) is one of the 11 Best Tech Stocks to Buy On the Dip. On June 13, analyst Elizabeth Porter from Morgan Stanley maintained a Buy rating on Wix.com Ltd. (NASDAQ:WIX) with a price target of $207. The rating comes after the company released its Q1 2025 results in May.

The company delivered a robust start to the year with Q1 total bookings of $511 million up 12% year-over-year. The revenue for the quarter totaled $474 million, exceeding expectations and reflecting 13% growth. Management noted this to be driven by accelerated Self Creators growth and momentum in Studio adoption.

Analyst Porter appreciated the robust performance of Wix.com Ltd. (NASDAQ:WIX) across key indicators including bookings, revenue, operating margins, and free cash flow. Porter noted this growth suggests a solid demand and counters concerns about competition and AI displacement risks. Management of Wix.com Ltd. (NASDAQ:WIX) maintained a full-year booking outlook at $2.025 billion to $2.060 billion reflecting an 11% to 13% increase year-over-year. The analyst acknowledged the outlook to be conservative due to macroeconomic challenges, particularly in the Business Solutions segment.

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