Wix.com (NASDAQ:WIX) Given New $155.00 Price Target at Barclays

Wix.com (NASDAQ:WIX) had its price target lowered by Barclays from $160.00 to $155.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

A number of other equities analysts have also commented on WIX. Royal Bank Of Canada reduced their target price on shares of Wix.com from $155.00 to $112.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $130.00 target price on shares of Wix.com in a research report on Thursday, March 5th. Weiss Ratings lowered shares of Wix.com from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. Wall Street Zen lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Finally, Benchmark reduced their target price on shares of Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $128.45.

Wix.com Price Performance

Wix.com stock opened at $67.67 on Thursday. Wix.com has a 1-year low of $60.22 and a 1-year high of $191.24. The firm has a market capitalization of $3.95 billion, a P/E ratio of 83.54, a price-to-earnings-growth ratio of 2.56 and a beta of 1.26. The company’s 50-day moving average is $80.20 and its 200 day moving average is $104.92.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, topping analysts’ consensus estimates of $1.36 by $0.45. The company had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The firm’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $2.10 EPS. Research analysts anticipate that Wix.com will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its Board of Directors has initiated a stock buyback plan on Wednesday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information services provider to purchase up to 40.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently bought and sold shares of WIX. AQR Capital Management LLC increased its holdings in Wix.com by 36.6% during the first quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock valued at $266,000 after buying an additional 436 shares during the period. Woodline Partners LP increased its holdings in Wix.com by 9.7% during the first quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock valued at $374,000 after buying an additional 202 shares during the period. Geneos Wealth Management Inc. increased its holdings in Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after buying an additional 215 shares during the period. Cetera Investment Advisers increased its holdings in Wix.com by 18.9% during the second quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock valued at $294,000 after buying an additional 295 shares during the period. Finally, American Century Companies Inc. increased its holdings in Wix.com by 29.5% during the second quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock valued at $1,098,000 after buying an additional 1,580 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.