30 Stocks Expected To Beat the Market By 20 Percentage Points This Year

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

Analyst Upside: 39.84%

Number of Hedge Fund Holders: 50

Wix.com Ltd. (NASDAQ:WIX) ranks among the 30 stocks expected to beat the market by 20 percentage points this year. On June 18, Barclays maintained its $240 price target and Overweight rating on Wix.com Ltd. (NASDAQ:WIX).

The rating confirmation comes after Wix.com Ltd. (NASDAQ:WIX) recently announced that it had acquired “Hour One,” a company with generative AI capabilities, just weeks prior.

Wix’s business strategy may be changing, according to Barclays, which said, “We do wonder if Wix is beginning to prioritize M&A as a larger part of its capital allocation strategy.” That said, Barclays does not see Wix pursuing significant game-changing acquisitions, despite the recent deals. The firm stated that smaller purchases could yet occur while large-scale M&A seems unlikely.

In particular, the research firm stated that it “would not be surprised to see more of these tuck-in deals to bolster talent/product capabilities,” implying that Wix.com Ltd. (NASDAQ:WIX) would keep making targeted acquisitions to improve its current technological expertise and service offerings.

Wix.com Ltd. (NASDAQ:WIX) is a cloud-based platform that enables those without technical expertise to create websites. It offers Wix Editor, Wix ADI, and numerous other services.

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