Wix.com (NASDAQ:WIX) Receives Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $150.00 price objective on the information services provider’s stock.

A number of other equities research analysts have also weighed in on the company. B. Riley boosted their target price on Wix.com from $120.00 to $141.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Piper Sandler boosted their target price on Wix.com from $146.00 to $165.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Raymond James started coverage on Wix.com in a research note on Wednesday, March 27th. They issued an outperform rating and a $160.00 target price for the company. Morgan Stanley reduced their price target on Wix.com from $157.00 to $143.00 and set an equal weight rating on the stock in a report on Wednesday, April 17th. Finally, Royal Bank of Canada boosted their price target on Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $144.29.

Wix.com Stock Down 1.9 %

Wix.com stock opened at $118.87 on Tuesday. Wix.com has a 52 week low of $73.39 and a 52 week high of $146.21. The business has a 50-day simple moving average of $133.58 and a 200 day simple moving average of $118.10. The stock has a market cap of $6.62 billion, a price-to-earnings ratio of 216.13, a PEG ratio of 4.16 and a beta of 1.33.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP grew its stake in shares of Wix.com by 10.7% in the 4th quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after buying an additional 117,146 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Wix.com by 5.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock worth $140,710,000 after buying an additional 57,090 shares during the last quarter. Senvest Management LLC grew its stake in shares of Wix.com by 27.4% in the 4th quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock worth $94,995,000 after buying an additional 166,254 shares during the last quarter. Sei Investments Co. grew its stake in shares of Wix.com by 8.2% in the 3rd quarter. Sei Investments Co. now owns 539,018 shares of the information services provider’s stock worth $49,482,000 after buying an additional 40,831 shares during the last quarter. Finally, Meitav Investment House Ltd. grew its stake in shares of Wix.com by 17.4% in the 3rd quarter. Meitav Investment House Ltd. now owns 534,708 shares of the information services provider’s stock worth $49,032,000 after buying an additional 79,349 shares during the last quarter. Hedge funds and other 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.