Key Stats for Wix Stock
- Price change for Wix stock: -8%
- $WIX Share Price as of Jun. 8: $48
- 52-Week High: $191
- $WIX Stock Price Target: $86
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What Happened?
Wix (WIX) stock dropped on Monday after the website-building company cut its growth forecast for 2026. The shares fell as much as 11% to 13% before the open, then clawed back some losses, closing down over 8%. At one point, Wix stock hit a fresh 52-week low, its weakest level since 2017.
Two things spooked investors.
First, Wix is laying off about 1,000 people, or roughly 20% of its staff.
Second, and more important to the stock, it lowered its outlook. The company now expects about $50 million less in bookings and $25 million less in revenue this year.
Wix blamed the restructuring itself, as well as a sharper-than-expected slowdown in its Partners business in late May and early June.
CEO Avishai Abrahami pointed to two pressures behind the cuts.
One is a stronger Israeli shekel, which raises costs since most of Wix’s staff is in Israel while its revenue is in dollars. The other is a shift toward leaner, AI-native staffing.
Here’s the nuance the market may have missed.
The two products investors care most about, the new Harmony website builder and the fast-growing Base44 app platform, are both still performing as expected.
The weakness is concentrated in the older Partners business, not across the whole company.
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What the Market Is Telling Us About Wix Stock
The sell-off shows investors are focused on the top-line cut, not the cost savings. And there’s a bigger fear hanging over Wix stock: that AI tools which can spin up a website in seconds will eat into its core business.
But the news wasn’t all bad, and that may be why the stock recovered off its lows.
- Wix actually raised its free cash flow target by $20 million to about $420 million.
- The layoffs are expected to save roughly $70 million this year and around $150 million per year once fully in place.
- In short, the company is trading some growth for stronger profits.
Wall Street remains cautiously hopeful.
Most analysts still rate Wix stock a buy, with an average price target well above where it trades now.
Still, with the stock near a multi-year low, the market clearly wants proof that the new strategy can work before paying up for Wix stock again.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
