Cantor Fitzgerald Issues Positive Forecast for Wix.com (NASDAQ:WIX) Stock Price

Wix.com (NASDAQ:WIX) had its target price boosted by Cantor Fitzgerald from $80.00 to $90.00 in a research report released on Monday morning, Marketbeat.com reports. Cantor Fitzgerald currently has an overweight rating on the information services provider’s stock.

Other analysts have also recently issued research reports about the stock. Evercore set a $95.00 price target on shares of Wix.com in a research note on Tuesday, August 4th. Wedbush increased their price objective on shares of Wix.com from $55.00 to $80.00 and gave the company a “neutral” rating in a report on Thursday, August 20th. Royal Bank Of Canada raised their price objective on Wix.com from $45.00 to $60.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Citigroup restated a “neutral” rating on shares of Wix.com in a research report on Wednesday, August 12th. Finally, Benchmark reaffirmed a “buy” rating on shares of Wix.com in a report on Wednesday, August 26th. Eleven equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $91.76.

Wix.com Price Performance

Wix.com stock opened at $76.98 on Monday. Wix.com has a 1 year low of $40.16 and a 1 year high of $148.33. The firm’s 50 day moving average price is $77.70 and its 200-day moving average price is $65.54. The stock has a market cap of $4.49 billion, a P/E ratio of -21.75, a PEG ratio of 35.65 and a beta of 1.01.

Wix.com (NASDAQ:WIX) last issued its earnings results on Tuesday, August 4th. The information services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.26. The firm had revenue of $563.06 million during the quarter, compared to analyst estimates of $552.56 million. Wix.com had a negative net margin of 8.19% and a negative return on equity of 1.61%. Wix.com’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.28 earnings per share. As a group, equities analysts expect that Wix.com will post 0.24 EPS for the current year.

Insider Activity

In other news, CFO Lior Shemesh bought 456 shares of the stock in a transaction dated Monday, August 31st. The stock was purchased at an average cost of $59.89 per share, for a total transaction of $27,309.84. Following the transaction, the chief financial officer owned 221,567 shares of the company’s stock, valued at $13,269,647.63. The trade was a 0.21% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Avishai Abrahami bought 654 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was acquired at an average cost of $59.89 per share, with a total value of $39,168.06. Following the completion of the acquisition, the chief executive officer owned 486,225 shares of the company’s stock, valued at $29,120,015.25. This represents a 0.13% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders purchased 2,622 shares of company stock worth $157,032. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Wix.com

A number of hedge funds have recently bought and sold shares of WIX. Farther Finance Advisors LLC lifted its position in Wix.com by 74.1% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the information services provider’s stock valued at $30,000 after buying an additional 177 shares during the last quarter. Rockefeller Capital Management L.P. increased its position in shares of Wix.com by 17.6% during the fourth quarter. Rockefeller Capital Management L.P. now owns 2,741 shares of the information services provider’s stock valued at $285,000 after acquiring an additional 410 shares during the last quarter. Versant Capital Management Inc increased its position in shares of Wix.com by 537.6% during the third quarter. Versant Capital Management Inc now owns 542 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 457 shares during the last quarter. USS Investment Management Ltd increased its position in shares of Wix.com by 4.8% during the first quarter. USS Investment Management Ltd now owns 12,902 shares of the information services provider’s stock valued at $1,162,000 after acquiring an additional 591 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Wix.com by 0.8% in the 1st quarter. Sei Investments Co. now owns 167,565 shares of the information services provider’s stock valued at $15,092,000 after acquiring an additional 1,259 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.