Morgan Stanley Trims Wix.com (NASDAQ:WIX) Target Price to $143.00

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

A number of other equities research analysts have also commented on the company. Piper Sandler increased their price target on Wix.com from $146.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, April 13th. JMP Securities boosted their price target 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. UBS Group upped their price objective on shares of Wix.com from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

Wix.com Trading Down 0.7 %

Wix.com stock opened at $121.77 on Wednesday. The firm’s fifty day moving average price is $134.86 and its two-hundred day moving average price is $115.74. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 225.07, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations 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 for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.42) EPS. On average, research analysts forecast that Wix.com will post 1.16 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WIX. HighMark Wealth Management LLC bought a new position in Wix.com during the fourth quarter valued at approximately $26,000. Northwest Bank & Trust Co bought a new position in shares of Wix.com during the fourth quarter valued at about $26,000. Quarry LP bought a new position in Wix.com during the 2nd quarter valued at approximately $29,000. UniSuper Management Pty Ltd purchased a new stake in Wix.com in the second quarter worth $31,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of Wix.com in the 3rd quarter worth about $37,000. 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.