Wix.com (NASDAQ:WIX – Free Report) had its price objective cut by Morgan Stanley from $157.00 to $143.00 in a research report released on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the information services provider’s stock.
Several other research analysts also recently issued reports on the stock. B. Riley upped their price target on shares of Wix.com from $120.00 to $141.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Royal Bank of Canada upped their price target on shares of Wix.com from $135.00 to $160.00 and gave the stock an outperform rating in a report on Thursday, February 22nd. Piper Sandler upped their price target on shares of Wix.com from $146.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of Wix.com from a hold rating to a buy rating in a report on Saturday, April 13th. Finally, Barclays increased their price objective on Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Wix.com currently has an average rating of Moderate Buy and a consensus target price of $144.29.
Check Out Our Latest Report on WIX
Wix.com Price Performance
Wix.com (NASDAQ:WIX – Get Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.24. The company had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.42) earnings per share. On average, analysts expect that Wix.com will post 1.16 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Wix.com
Institutional investors and hedge funds have recently made changes to their positions in the stock. HighMark Wealth Management LLC bought a new position in shares of Wix.com during the 4th quarter worth about $26,000. Northwest Bank & Trust Co bought a new position in shares of Wix.com during the 4th quarter worth about $26,000. Quarry LP acquired a new stake in shares of Wix.com in the 2nd quarter worth about $29,000. UniSuper Management Pty Ltd acquired a new stake in shares of Wix.com in the 2nd quarter worth about $31,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Wix.com in the 3rd quarter worth about $37,000. Institutional investors own 81.52% of the company’s stock.
About Wix.com
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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.
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