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 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.
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This article is originally published at Insider Monkey.
