Wix.com (NASDAQ:WIX) Lifted to “Buy” at StockNews.com

Wix.com (NASDAQ:WIX) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued reports about the company. JMP Securities lifted their target price on Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 24th. B. Riley lifted their target price on Wix.com from $120.00 to $141.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Benchmark lifted their target price on Wix.com from $132.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Royal Bank of Canada lifted their target price on Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, Barclays lifted their target price on Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Wix.com Trading Down 3.2 %

Shares of NASDAQ:WIX opened at $127.14 on Friday. The stock’s fifty day simple moving average is $135.26 and its two-hundred day simple moving average is $114.86. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21. The stock has a market cap of $7.08 billion, a PE ratio of 231.16, a price-to-earnings-growth ratio of 4.52 and a beta of 1.33.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.24. The business had revenue of $403.80 million for the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the business earned ($0.42) EPS. On average, sell-side analysts forecast that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in WIX. The Manufacturers Life Insurance Company grew its holdings in shares of Wix.com by 0.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 20,949 shares of the information services provider’s stock worth $2,577,000 after purchasing an additional 100 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Wix.com by 5.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after purchasing an additional 129 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in shares of Wix.com by 21.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 763 shares of the information services provider’s stock worth $56,000 after purchasing an additional 136 shares in the last quarter. First Republic Investment Management Inc. grew its holdings in shares of Wix.com by 2.7% during the second quarter. First Republic Investment Management Inc. now owns 6,310 shares of the information services provider’s stock worth $414,000 after purchasing an additional 167 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its holdings in shares of Wix.com by 1.0% during the fourth quarter. Public Sector Pension Investment Board now owns 19,402 shares of the information services provider’s stock worth $2,387,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to have the freedom of customization that the classic editor offers.