Wix.com (NASDAQ:WIX) Raised 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 brokerages have also commented on WIX. Barclays increased their price objective on shares of Wix.com from $147.00 to $160.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Needham & Company LLC reissued a buy rating and issued a $150.00 price target on shares of Wix.com in a research note on Wednesday, February 21st. Raymond James initiated coverage on Wix.com in a research note on Wednesday, March 27th. They set an outperform rating and a $160.00 price objective for the company. UBS Group increased their target price on Wix.com from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, Royal Bank of Canada boosted their target price on Wix.com from $135.00 to $160.00 and gave the stock an outperform 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 data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $142.00.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $123.96 on Friday. Wix.com has a 52-week low of $73.39 and a 52-week high of $146.21. The company has a market cap of $6.90 billion, a P/E ratio of 225.38, a P/E/G ratio of 4.38 and a beta of 1.33. The stock’s 50-day moving average is $135.18 and its 200-day moving average is $115.46.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. The company had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.42) EPS. As a group, equities analysts predict that Wix.com will post 1.16 EPS for the current year.

Hedge Funds Weigh In On Wix.com

Large investors have recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its holdings in shares of Wix.com by 112.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 48,430 shares of the information services provider’s stock valued at $4,446,000 after purchasing an additional 25,600 shares during the period. Senvest Management LLC lifted its position in Wix.com by 27.4% during the fourth quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock worth $94,995,000 after purchasing an additional 166,254 shares during the period. Nordea Investment Management AB grew its stake in Wix.com by 13.5% during the fourth quarter. Nordea Investment Management AB now owns 3,792 shares of the information services provider’s stock worth $472,000 after buying an additional 450 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in Wix.com by 208.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 43,176 shares of the information services provider’s stock valued at $5,312,000 after buying an additional 29,194 shares during the period. Finally, 13D Management LLC raised its position in shares of Wix.com by 49.1% in the 3rd quarter. 13D Management LLC now owns 96,336 shares of the information services provider’s stock valued at $8,844,000 after buying an additional 31,736 shares in the last quarter. Institutional investors and hedge funds 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.