Wix.com (NASDAQ:WIX) Receives Market Outperform Rating from JMP Securities

JMP Securities reissued their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a report issued on Friday,Benzinga reports. They currently have a $210.00 price objective on the information services provider’s stock.

Several other equities analysts have also commented on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $210.00 price objective on shares of Wix.com in a research report on Tuesday, August 19th. Scotiabank set a $255.00 price objective on Wix.com and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. Zacks Research raised Wix.com from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 20th. UBS Group lowered their price target on Wix.com from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on Wix.com from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $215.37.

Wix.com Trading Down 1.2%

Shares of Wix.com stock opened at $151.77 on Friday. The firm has a market capitalization of $8.52 billion, a P/E ratio of 54.01, a P/E/G ratio of 2.95 and a beta of 1.32. The business has a fifty day simple moving average of $148.46 and a two-hundred day simple moving average of $156.54. Wix.com has a 12 month low of $114.89 and a 12 month high of $247.11.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. The business had revenue of $489.93 million during the quarter, compared to analyst estimates of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The company’s revenue for the quarter was up 12.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.67 earnings per share. Analysts predict that Wix.com will post 3.65 earnings per share for the current year.

Wix.com announced that its board has initiated a share buyback plan on Monday, August 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Wix.com

A number of large investors have recently made changes to their positions in the company. Lone Pine Capital LLC bought a new stake in shares of Wix.com during the 2nd quarter valued at about $342,485,000. Acadian Asset Management LLC grew its stake in shares of Wix.com by 0.4% during the 2nd quarter. Acadian Asset Management LLC now owns 2,119,805 shares of the information services provider’s stock valued at $335,852,000 after acquiring an additional 7,729 shares during the period. Senvest Management LLC grew its stake in shares of Wix.com by 32.2% during the 2nd quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock valued at $323,403,000 after acquiring an additional 496,770 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Wix.com by 879.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,031,591 shares of the information services provider’s stock valued at $321,926,000 after acquiring an additional 1,824,070 shares during the period. Finally, Lazard Asset Management LLC grew its stake in shares of Wix.com by 27.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,542,153 shares of the information services provider’s stock valued at $244,368,000 after acquiring an additional 331,283 shares during the period. 81.52% of the stock is currently owned by institutional investors.

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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.