Wix.com (NASDAQ:WIX) PT Lowered to $143.00

Wix.com (NASDAQ:WIX) had its price objective cut by equities researchers at Morgan Stanley from $157.00 to $143.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the information services provider’s stock. Morgan Stanley’s price target points to a potential upside of 17.43% from the stock’s previous close.

A number of other research analysts also recently commented on WIX. Raymond James began coverage on Wix.com in a report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and set a $150.00 target price on shares of Wix.com in a research note on Wednesday, February 21st. JMP Securities increased their target price on shares of Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 24th. Royal Bank of Canada lifted their price target on shares of Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, B. Riley increased 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 analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $144.29.

Wix.com Price Performance

WIX opened at $121.77 on Wednesday. Wix.com has a 12-month low of $73.39 and a 12-month high of $146.21. The stock has a market capitalization of $6.78 billion, a PE ratio of 225.07, a P/E/G ratio of 4.26 and a beta of 1.33. The firm’s fifty day moving average price is $134.86 and its 200 day moving average price is $115.74.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping 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 company had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. During the same quarter in the previous year, the firm earned ($0.42) EPS. The company’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts forecast that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently added to or reduced their stakes in the company. HighMark Wealth Management LLC acquired a new position in shares of Wix.com in the 4th quarter worth $26,000. Northwest Bank & Trust Co acquired a new position in shares of Wix.com in the fourth quarter worth $26,000. Quarry LP purchased a new stake in shares of Wix.com during the second quarter worth $29,000. UniSuper Management Pty Ltd acquired a new stake in Wix.com during the second quarter valued at $31,000. Finally, BluePath Capital Management LLC purchased a new position in Wix.com in the third quarter valued at about $37,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.