Wix.com (NASDAQ:WIX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a research report report published on Saturday morning.

A number of other research firms have also recently commented on WIX. JMP Securities upped their price objective on Wix.com from $130.00 to $150.00 and gave the company a market outperform rating in a research report on Wednesday, January 24th. Royal Bank of Canada upped their price objective on Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a buy rating and set a $150.00 price objective on shares of Wix.com in a research report on Wednesday, February 21st. Piper Sandler upped their price objective on Wix.com from $146.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. Finally, Benchmark upped their price objective on Wix.com from $132.00 to $175.00 and gave the company a buy rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $142.00.

Wix.com Trading Down 3.2 %

Wix.com stock opened at $127.14 on Friday. The business’s fifty day simple moving average is $135.26 and its two-hundred day simple moving average is $115.05. Wix.com has a 12 month low of $73.39 and a 12 month high of $146.21. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 231.16, a price-to-earnings-growth ratio of 4.38 and a beta of 1.33.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share 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 analysts’ expectations of $416.87 million. During the same quarter in the previous year, the business earned ($0.42) earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts predict that Wix.com will post 1.16 EPS for the current year.

Hedge Funds Weigh In On Wix.com

Hedge funds have recently made changes to their positions in the business. HighMark Wealth Management LLC bought a new position in shares of Wix.com in the fourth quarter worth about $26,000. Northwest Bank & Trust Co bought a new position in shares of Wix.com in the fourth quarter worth about $26,000. Quarry LP bought a new position in shares of Wix.com in the second quarter worth about $29,000. UniSuper Management Pty Ltd bought a new position in shares of Wix.com in the second quarter worth about $31,000. Finally, BluePath Capital Management LLC bought a new position in shares of Wix.com in the third 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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.