StockNews.com Upgrades Wix.com (NASDAQ:WIX) to Buy

Wix.com (NASDAQ:WIXGet Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on the stock. Barclays boosted their price objective on shares of Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Raymond James started coverage on shares of Wix.com in a research note on Wednesday, March 27th. They set an “outperform” rating and a $160.00 price objective for the company. Piper Sandler boosted their price objective on shares of Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Royal Bank of Canada boosted their price objective on shares of Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. Finally, B. Riley boosted their price objective on shares of Wix.com from $120.00 to $141.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.00.

Check Out Our Latest Analysis on Wix.com

Wix.com Stock Performance

NASDAQ:WIX opened at $127.14 on Friday. Wix.com has a one year low of $73.39 and a one year high of $146.21. The firm has a market cap of $7.07 billion, a P/E ratio of 231.16, a P/E/G ratio of 4.38 and a beta of 1.33. The firm has a 50-day simple moving average of $135.26 and a 200-day simple moving average of $115.23.

Wix.com (NASDAQ:WIXGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.98 by $0.24. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The business had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. During the same quarter in the previous year, the business posted ($0.42) EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, research analysts predict that Wix.com will post 1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently added to or reduced their stakes in WIX. Bank of New York Mellon Corp raised its position in Wix.com by 8.5% during the first quarter. Bank of New York Mellon Corp now owns 303,165 shares of the information services provider’s stock worth $31,669,000 after acquiring an additional 23,843 shares during the period. US Bancorp DE raised its position in shares of Wix.com by 39.7% in the first quarter. US Bancorp DE now owns 2,782 shares of the information services provider’s stock valued at $290,000 after buying an additional 791 shares during the last quarter. Citigroup Inc. raised its position in shares of Wix.com by 58.1% in the first quarter. Citigroup Inc. now owns 47,694 shares of the information services provider’s stock valued at $4,982,000 after buying an additional 17,530 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Wix.com in the first quarter valued at about $346,000. Finally, Ergoteles LLC raised its position in shares of Wix.com by 388.6% in the first quarter. Ergoteles LLC now owns 44,121 shares of the information services provider’s stock valued at $4,609,000 after buying an additional 35,091 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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