{"success":true,"data":{"pressRelease":{"id":"133072","rtpr_id":"nGNX73dgvt","ticker":"WIX","exchange":"NASDAQ","all_tickers":["WIX"],"title":"Portnoy Law Firm Announces Class Action on Behalf of Wix.com, Ltd. Investors","author":"Globe Newswire","published_at":"2026-09-01T19:59:51.103Z","article_body":"LOS ANGELES, Sept. 01, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=95nNS0LDIqbeIuEEMaTKxng6fPvIP_Smta0gYnGlKgmekhIbeWx9aaOezmopehvTAM2yvflyPfuAIt0SNGgs9x8JfQiQsgEP6eYmnr__AJb2U4zdftDAdDWgdpG0Pr5Y)\nadvises Wix.com, Ltd., (“Wix” or the \"Company\") (NASDAQ: WIX) investors\nof a class action on behalf of investors that bought securities between\nFebruary 19, 2025 and May 12, 2026, inclusive (the “Class Period”). Wix\ninvestors have until September 23, 2026 to file a lead plaintiff motion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=BVgjir9bauIfMYsp2dMz9aKT2BVM7ZD0K1_TVTeXZ-9c040TTP_BCZ9YI_AX7gN2Z5e2gBspyi_jGe13eUsOatkbpeXf5EqminsEE48k388=), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=0bFDSbEnNGCvJv5PHt02T5JPf8kraGi_6bFJyMqmjSnHCBenYUJaG0ZX5T8rCekujEFVEIQhuyNvu4kGZ_3996ahnaXm-KqFzWifc4BsfLE=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/wix-com-ltd. The Portnoy Law Firm can provide a\ncomplimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nWix operates a cloud-based web development platform and offers various\nservices that allow users to create, customize, and manage professional\nwebsites. In June 2025, Wix acquired Base44, a so-called “vibe coding”\nplatform designed to enable users to build apps and websites simply by typing\ndescriptions, without the need for any coding experience.\n\nThe Wix class action lawsuit alleges that defendants throughout the Class\nPeriod made false and/or misleading statements and/or failed to disclose that:\n(i) Wix had overstated the competitiveness and performance of its AI product\nofferings relative to those offered by other companies; (ii) Wix had\nunderstated the costs associated with developing and promoting its AI product\nofferings; and (iii) accordingly, defendants overstated the commercial and\nfinancial benefits of Wix’ AI product offerings.\n\nOn May 21, 2025, Wix issued a press release reporting its financial results\nfor the first quarter of 2025, allegedly revealing that Wix maintained its\n2025 revenue guidance in the range of $1.97 billion to $2 billion, falling\nshort of analyst expectations. On this news, the price of Wix stock fell more\nthan 16%, according to the complaint.\n\nOn November 19, 2025, Wix reported its financial results for the third quarter\nof 2025, allegedly disclosing that its rising post-acquisition costs to\nsupport Base44 were having a material negative impact on Wix’ financial\nresults and mitigating the positive impacts of AI-related tailwinds. On this\nnews, the price of Wix stock dropped nearly 20%, according to the complaint.\n\nOn March 27, 2026, JPMorgan issued a report on Wix, allegedly downgrading it\nto an “Underweight” from “Neutral” rating, and cutting its price\ntarget to $91.00 from $114.00. The complaint alleges that JPMorgan explained\n“our conviction to the investment case has diminished on signs of core\nbusiness revenue growth deceleration,” and expressed concern “that margin\nimprovement will be slower and more volatile than investors anticipate.” On\nthis news, the price of Wix stock fell nearly 3% further, according to the\ncomplaint.\n\nThen, on April 2, 2026, UBS issued a report on Wix, allegedly downgrading it\nto a “Neutral” from “Buy” rating, and cutting its price target to\n$96.00 from $145.00, “after re-evaluating its growth algorithm for the core\nbusiness and its margin profile.” On this news, the price of Wix stock\ndeclined nearly 10% further, according to the complaint.\n\nOn April 7, 2026, Citizens issued an investor note on Wix, allegedly\ndowngrading it to a “Market Perform” from “Market Outperform” rating\nbased on, among other things, increased costs associated with Base44 and\ncompetition concerns. On this news, the price of Wix stock fell nearly 4%\nfurther, according to the complaint.\n\nFinally, on May 13, 2026, Wix reported its financial results for the first\nquarter of 2026, allegedly disclosing earnings and revenue below consensus\nexpectations, and a sharp decline in operating margins that it largely\nattributed to softness in its professional developer business.  On a related\nearnings call held the same day, defendants allegedly acknowledged that Wix’\nprofessional developer customers were using competing AI tools, that Wix’\nnew Wix Harmony platform had “holes” and “missing capabilities,” that\nthere had been delays in delivering product updates and innovation to\nprofessional developer customers, and that as a result, Wix had fallen behind\n“the workflow and the needs of” professional developers.  On this news,\nthe price of Wix stock fell more than 27%, according to the complaint.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX73dgvt","title":"Portnoy Law Firm Announces Class Action on Behalf of Wix.com, Ltd. Investors","author":"Globe Newswire","ticker":"WIX","created":"2026-09-01T19:59:51.103Z","tickers":["WIX"],"exchange":"NASDAQ","article_body":"LOS ANGELES, Sept. 01, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm\n(https://www.globenewswire.com/Tracker?data=95nNS0LDIqbeIuEEMaTKxng6fPvIP_Smta0gYnGlKgmekhIbeWx9aaOezmopehvTAM2yvflyPfuAIt0SNGgs9x8JfQiQsgEP6eYmnr__AJb2U4zdftDAdDWgdpG0Pr5Y)\nadvises Wix.com, Ltd., (“Wix” or the \"Company\") (NASDAQ: WIX) investors\nof a class action on behalf of investors that bought securities between\nFebruary 19, 2025 and May 12, 2026, inclusive (the “Class Period”). Wix\ninvestors have until September 23, 2026 to file a lead plaintiff motion.\n\nInvestors are encouraged to contact attorney Lesley F. Portnoy\n(https://www.globenewswire.com/Tracker?data=BVgjir9bauIfMYsp2dMz9aKT2BVM7ZD0K1_TVTeXZ-9c040TTP_BCZ9YI_AX7gN2Z5e2gBspyi_jGe13eUsOatkbpeXf5EqminsEE48k388=), by\nphone 310-692-8883 or email\n(https://www.globenewswire.com/Tracker?data=0bFDSbEnNGCvJv5PHt02T5JPf8kraGi_6bFJyMqmjSnHCBenYUJaG0ZX5T8rCekujEFVEIQhuyNvu4kGZ_3996ahnaXm-KqFzWifc4BsfLE=):\nlesley@portnoylaw.com, to discuss their legal rights, or join the case via\nhttps://portnoylaw.com/wix-com-ltd. The Portnoy Law Firm can provide a\ncomplimentary case evaluation and discuss investors’ options for pursuing\nclaims to recover their losses.\n\nWix operates a cloud-based web development platform and offers various\nservices that allow users to create, customize, and manage professional\nwebsites. In June 2025, Wix acquired Base44, a so-called “vibe coding”\nplatform designed to enable users to build apps and websites simply by typing\ndescriptions, without the need for any coding experience.\n\nThe Wix class action lawsuit alleges that defendants throughout the Class\nPeriod made false and/or misleading statements and/or failed to disclose that:\n(i) Wix had overstated the competitiveness and performance of its AI product\nofferings relative to those offered by other companies; (ii) Wix had\nunderstated the costs associated with developing and promoting its AI product\nofferings; and (iii) accordingly, defendants overstated the commercial and\nfinancial benefits of Wix’ AI product offerings.\n\nOn May 21, 2025, Wix issued a press release reporting its financial results\nfor the first quarter of 2025, allegedly revealing that Wix maintained its\n2025 revenue guidance in the range of $1.97 billion to $2 billion, falling\nshort of analyst expectations. On this news, the price of Wix stock fell more\nthan 16%, according to the complaint.\n\nOn November 19, 2025, Wix reported its financial results for the third quarter\nof 2025, allegedly disclosing that its rising post-acquisition costs to\nsupport Base44 were having a material negative impact on Wix’ financial\nresults and mitigating the positive impacts of AI-related tailwinds. On this\nnews, the price of Wix stock dropped nearly 20%, according to the complaint.\n\nOn March 27, 2026, JPMorgan issued a report on Wix, allegedly downgrading it\nto an “Underweight” from “Neutral” rating, and cutting its price\ntarget to $91.00 from $114.00. The complaint alleges that JPMorgan explained\n“our conviction to the investment case has diminished on signs of core\nbusiness revenue growth deceleration,” and expressed concern “that margin\nimprovement will be slower and more volatile than investors anticipate.” On\nthis news, the price of Wix stock fell nearly 3% further, according to the\ncomplaint.\n\nThen, on April 2, 2026, UBS issued a report on Wix, allegedly downgrading it\nto a “Neutral” from “Buy” rating, and cutting its price target to\n$96.00 from $145.00, “after re-evaluating its growth algorithm for the core\nbusiness and its margin profile.” On this news, the price of Wix stock\ndeclined nearly 10% further, according to the complaint.\n\nOn April 7, 2026, Citizens issued an investor note on Wix, allegedly\ndowngrading it to a “Market Perform” from “Market Outperform” rating\nbased on, among other things, increased costs associated with Base44 and\ncompetition concerns. On this news, the price of Wix stock fell nearly 4%\nfurther, according to the complaint.\n\nFinally, on May 13, 2026, Wix reported its financial results for the first\nquarter of 2026, allegedly disclosing earnings and revenue below consensus\nexpectations, and a sharp decline in operating margins that it largely\nattributed to softness in its professional developer business.  On a related\nearnings call held the same day, defendants allegedly acknowledged that Wix’\nprofessional developer customers were using competing AI tools, that Wix’\nnew Wix Harmony platform had “holes” and “missing capabilities,” that\nthere had been delays in delivering product updates and innovation to\nprofessional developer customers, and that as a result, Wix had fallen behind\n“the workflow and the needs of” professional developers.  On this news,\nthe price of Wix stock fell more than 27%, according to the complaint.\n\nThe Portnoy Law Firm represents investors in pursuing claims caused by\ncorporate wrongdoing. The Firm’s founding partner has recovered over $5.5\nbillion for aggrieved investors. Attorney advertising. Prior results do not\nguarantee similar outcomes.\n\nLesley F. Portnoy, Esq.\nAdmitted CA, NY and TX Bar\nlesley@portnoylaw.com\n310-692-8883\nwww.portnoylaw.com\n\nAttorney Advertising\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/ea0dd9c0-6e41-4d5a-ad27-b277677af6df)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-01T19:59:51.150665569Z","server_sent_at_ms":1788292791150},"received_at":"2026-09-01T19:59:51.238Z","source_url":null},"analysis":{"id":"121965","press_release_id":"133072","analysis_json":{"industry":{"label":"Software","sector":"Information Technology"},"redFlags":[],"eventType":"legal_litigation","narrative":"Portnoy Law Firm announced a class action lawsuit against Wix.com on behalf of investors who purchased securities between February 19, 2025, and May 12, 2026.\n\nThe complaint alleges that Wix made false or misleading statements regarding the competitiveness and costs of its AI product offerings, failing to disclose overstated commercial benefits.\n\nInvestors have until September 23, 2026, to file a lead plaintiff motion to pursue claims for recovery of losses.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Plaintiff-firm solicitation -- suppress."},"keyFigures":null,"quotedText":"","namedEntities":{"people":[{"name":"Lesley F. Portnoy","role":"Attorney"}],"products":["Base44","Wix Harmony"],"companies":[{"name":"Portnoy Law Firm","relationship":"plaintiff law firm"},{"name":"Wix.com, Ltd.","ticker":"WIX"},{"name":"Base44","relationship":"subsidiary"},{"name":"JPMorgan","relationship":"analyst"},{"name":"UBS","relationship":"analyst"},{"name":"Citizens","relationship":"analyst"}],"dollarAmounts":[{"amount":"$5.5 billion","context":"amount recovered by Portnoy Law Firm founding partner for aggrieved investors"}]},"materialImpact":{"score":1,"reasoning":"Plaintiff law-firm shareholder solicitation issued by Portnoy Law Firm. No new disclosure from the issuer; no certified class, no settlement. Boilerplate lead-plaintiff-deadline reminder."},"tickerRelevance":{"others":[],"primary":"WIX"},"globalImportance":15,"audienceRelevance":15,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"event_type":"legal_litigation","event_type_secondary":null,"sentiment":"neutral","material_impact_score":1,"narrative":"Portnoy Law Firm announced a class action lawsuit against Wix.com on behalf of investors who purchased securities between February 19, 2025, and May 12, 2026.\n\nThe complaint alleges that Wix made false or misleading statements regarding the competitiveness and costs of its AI product offerings, failing to disclose overstated commercial benefits.\n\nInvestors have until September 23, 2026, to file a lead plaintiff motion to pursue claims for recovery of losses.","key_figures":null,"named_entities":{"people":[{"name":"Lesley F. Portnoy","role":"Attorney"}],"products":["Base44","Wix Harmony"],"companies":[{"name":"Portnoy Law Firm","relationship":"plaintiff law firm"},{"name":"Wix.com, Ltd.","ticker":"WIX"},{"name":"Base44","relationship":"subsidiary"},{"name":"JPMorgan","relationship":"analyst"},{"name":"UBS","relationship":"analyst"},{"name":"Citizens","relationship":"analyst"}],"dollarAmounts":[{"amount":"$5.5 billion","context":"amount recovered by Portnoy Law Firm founding partner for aggrieved investors"}]},"model_name":"glm-4.7","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-01T20:01:08.976Z","global_importance":15,"audience_relevance":15,"importance_components":{"tickerTier":"mid-cap","eventGravity":"law-firm-solicitation","issuerAuthored":false}},"durationMs":77733,"modelName":"glm-4.7"}}