Wix.com (NASDAQ:WIX) Coverage Initiated by Analysts at Raymond James

Raymond James assumed coverage on shares of Wix.com (NASDAQ:WIX) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued an outperform rating and a $160.00 price objective on the information services provider’s stock.

Other analysts also recently issued research reports about the stock. Barclays upped their price target on shares of Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a research 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 company an overweight rating in a research report on Thursday, February 22nd. UBS Group upped their price target on shares of Wix.com from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, February 22nd. JMP Securities upped their price target on shares of Wix.com from $130.00 to $150.00 and gave the company a market outperform rating in a research report on Wednesday, January 24th. Finally, Royal Bank of Canada upped their price target on shares of Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $139.53.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $136.54 on Wednesday. Wix.com has a fifty-two week low of $73.39 and a fifty-two week high of $146.21. The firm has a market capitalization of $7.60 billion, a PE ratio of 248.25, a price-to-earnings-growth ratio of 4.74 and a beta of 1.34. The stock’s 50-day simple moving average is $133.58 and its 200-day simple moving average is $111.52.

Wix.com (NASDAQ:WIX) last posted 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 during the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.42) earnings per share. On average, sell-side analysts forecast 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 acquired a new stake in Wix.com in the 4th quarter valued at about $26,000. Northwest Bank & Trust Co acquired a new stake in Wix.com in the 4th quarter valued at about $26,000. Quarry LP acquired a new stake in Wix.com in the 2nd quarter valued at about $29,000. UniSuper Management Pty Ltd acquired a new stake in Wix.com in the 2nd quarter valued at about $31,000. Finally, BluePath Capital Management LLC acquired a new stake in Wix.com in the 3rd quarter valued at about $37,000. 81.52% of the stock is owned by institutional investors and hedge funds.

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