Wix.com (NASDAQ:WIX) Rating Reiterated by JMP Securities

Wix.com (NASDAQ:WIX)‘s stock had its “market outperform” rating reiterated by analysts at JMP Securities in a report released on Tuesday, Benzinga reports. They presently have a $150.00 target price on the information services provider’s stock. JMP Securities’ target price suggests a potential upside of 26.06% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Benchmark lifted their price target on shares of Wix.com from $132.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. B. Riley lifted their price target on shares of Wix.com from $120.00 to $141.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Piper Sandler lifted their price target on shares of Wix.com from $146.00 to $165.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Wix.com in a report on Wednesday, February 21st. Finally, Morgan Stanley lowered their target price on shares of Wix.com from $157.00 to $143.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $144.29.

Wix.com Trading Up 0.1 %

WIX opened at $118.99 on Tuesday. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 216.35, a PEG ratio of 4.17 and a beta of 1.33. The company’s 50 day moving average is $133.30 and its 200 day moving average is $118.10. Wix.com has a 12-month low of $73.39 and a 12-month high of $146.21.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. The company had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The firm’s revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.42) earnings per share. As a group, analysts predict that Wix.com will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WIX. Senvest Management LLC increased its position in Wix.com by 194.2% during the third quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock valued at $55,625,000 after acquiring an additional 399,944 shares during the last quarter. Clearbridge Investments LLC grew its holdings in shares of Wix.com by 43.5% in the third quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock worth $99,759,000 after purchasing an additional 329,561 shares during the last quarter. Shannon River Fund Management LLC purchased a new stake in Wix.com in the third quarter worth about $29,590,000. Norges Bank purchased a new stake in Wix.com in the fourth quarter worth about $34,554,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Wix.com by 5,893.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 263,012 shares of the information services provider’s stock worth $24,145,000 after acquiring an additional 258,624 shares during the period. Institutional investors own 81.52% of the company’s stock.

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.