Weiss Ratings Reaffirms “Hold (C)” Rating for Wix.com (NASDAQ:WIX)

Wix.com (NASDAQ:WIX)‘s stock had its “hold (c)” rating reiterated by investment analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research analysts also recently issued reports on the stock. Scotiabank set a $255.00 target price on shares of Wix.com and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. JMP Securities restated a “market outperform” rating and set a $210.00 target price on shares of Wix.com in a research report on Friday, October 3rd. Raymond James Financial reiterated a “strong-buy” rating on shares of Wix.com in a research report on Thursday, August 7th. Wall Street Zen downgraded shares of Wix.com from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $215.37.

Wix.com Trading Up 2.7%

Wix.com stock opened at $138.72 on Wednesday. Wix.com has a 1 year low of $114.89 and a 1 year high of $247.11. The company has a market cap of $7.78 billion, a PE ratio of 49.37, a PEG ratio of 2.52 and a beta of 1.32. The company’s 50-day moving average is $148.14 and its two-hundred day moving average is $155.65.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The company had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. During the same period in the prior year, the company posted $1.67 EPS. The company’s revenue was up 12.4% compared to the same quarter last year. Research analysts forecast that Wix.com will post 3.65 EPS for the current year.

Wix.com announced that its board has initiated a share repurchase program on Monday, August 11th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Capital Advisors LLC acquired a new stake in shares of Wix.com in the third quarter valued at approximately $377,000. Texas Permanent School Fund Corp raised its holdings in shares of Wix.com by 40.9% in the second quarter. Texas Permanent School Fund Corp now owns 50,618 shares of the information services provider’s stock valued at $8,021,000 after purchasing an additional 14,705 shares during the last quarter. Orion Porfolio Solutions LLC acquired a new stake in shares of Wix.com in the second quarter valued at approximately $884,000. Munro Partners acquired a new stake in shares of Wix.com in the second quarter valued at approximately $2,567,000. Finally, Liontrust Investment Partners LLP acquired a new stake in shares of Wix.com in the second quarter valued at approximately $3,708,000. 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.