Wix.com (NASDAQ:WIX) Given New $180.00 Price Target at JMP Securities

Wix.com (NASDAQ:WIX) had its price target raised by equities researchers at JMP Securities from $150.00 to $180.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has a “market outperform” rating on the information services provider’s stock. JMP Securities’ price target suggests a potential upside of 7.13% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Raymond James assumed coverage on Wix.com in a report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 target price for the company. Morgan Stanley reduced their target price on shares of Wix.com from $157.00 to $143.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Piper Sandler lowered Wix.com from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $165.00 to $184.00 in a research report on Tuesday. UBS Group lifted their target price on Wix.com from $155.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Oppenheimer increased their price target on Wix.com from $160.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Wix.com currently has an average rating of “Moderate Buy” and a consensus target price of $156.93.

Wix.com Stock Performance

NASDAQ WIX opened at $168.02 on Tuesday. The stock’s fifty day moving average is $131.01 and its two-hundred day moving average is $122.68. The firm has a market capitalization of $9.35 billion, a P/E ratio of 305.49, a price-to-earnings-growth ratio of 4.67 and a beta of 1.34. Wix.com has a fifty-two week low of $73.39 and a fifty-two week high of $170.41.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. The company 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%. Wix.com’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.42) earnings per share. As a group, sell-side analysts forecast that Wix.com will post 1.16 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. iA Global Asset Management Inc. raised its stake in Wix.com by 176.5% in the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after purchasing an additional 10,427 shares during the last quarter. Tidal Investments LLC acquired a new stake in Wix.com in the 1st quarter worth about $5,197,000. California State Teachers Retirement System increased its stake in shares of Wix.com by 9.8% during the 1st quarter. California State Teachers Retirement System now owns 56,143 shares of the information services provider’s stock valued at $7,719,000 after acquiring an additional 5,033 shares during the last quarter. Grandeur Peak Global Advisors LLC lifted its holdings in shares of Wix.com by 163.7% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 3,829 shares of the information services provider’s stock worth $526,000 after acquiring an additional 2,377 shares during the period. Finally, Industrial Alliance Investment Management Inc. raised its holdings in Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after buying an additional 488 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.