Wix.com’s (WIX) Downslide Makes It An Attractive Buy

Wix.com Limited (NASDAQ:WIX) is one of the 10 Cheap Stocks with Huge Upside Potential. On January 22, Citizens lowered its price target for Wix.com Limited (NASDAQ:WIX) from $185 to $125. This may sound like a steep downgrade at first, but the revised target price still offers 41% upside from here on. On the same day, Trevor Young of Barclays also lowered his price target, though the revision was only a $5 cut from the previous $210.

Analysts are clearly pricing in a new reality for the stock, which has been struggling for a year, down 62% due to the constant financial pressure of creating new AI tools. The stock has gained over 15% in the last 3 trading sessions due to a recent announcement that has shifted investor sentiment. The company launched a new AI website builder ‘Wix Harmony’ that now offers visual editing capabilities for websites generated with natural language generation.

Users can now create enterprise-grade websites ready to be deployed just by giving prompts to both create and edit the website. It addresses a common pain point of users developing websites with AI: security vulnerabilities and the availability of only basic designs. Wix Harmony fixes these limitations, as CEO Avishai Abrahami points out:

“With Wix Harmony, now anyone can create a beautiful website, design easily with prompts and natural language without sacrificing scalability, security, reliability and performance,”

Wix.com Limited (NASDAQ:WIX) is a software company that provides cloud-based web development services. It initially became famous for its simple drag-and-drop website builders for non-technical users, but is now also an established brand for making websites with AI.

While we acknowledge the risk and potential of WIX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than WIX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.