B. Riley Boosts Wix.com (NASDAQ:WIX) Price Target to $180.00

Wix.com (NASDAQ:WIX) had its target price lifted by B. Riley from $154.00 to $180.00 in a research note published on Tuesday morning, Benzinga reports. B. Riley currently has a buy rating on the information services provider’s stock.

Several other brokerages also recently commented on WIX. Jefferies Financial Group raised their price objective on Wix.com from $150.00 to $160.00 and gave the stock a buy rating in a research note on Monday. Barclays lifted their price objective on Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a report on Thursday, February 22nd. Needham & Company LLC reissued a buy rating and set a $160.00 target price on shares of Wix.com in a research note on Monday. Piper Sandler downgraded shares of Wix.com from an overweight rating to a neutral rating and raised their target price for the stock from $165.00 to $184.00 in a report on Tuesday. Finally, Raymond James assumed coverage on shares of Wix.com in a report on Wednesday, March 27th. They set an outperform rating and a $160.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Wix.com presently has a consensus rating of Moderate Buy and a consensus target price of $170.81.

Wix.com Trading Down 1.2 %

Shares of NASDAQ WIX opened at $165.21 on Tuesday. The firm has a market capitalization of $9.19 billion, a PE ratio of 144.92, a price-to-earnings-growth ratio of 6.70 and a beta of 1.34. The firm’s 50-day moving average is $132.13 and its 200-day moving average is $123.59. Wix.com has a 1 year low of $73.39 and a 1 year high of $174.09.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.24. The firm had revenue of $403.80 million for the quarter, compared to analyst estimates of $416.87 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. The company’s quarterly revenue was up 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. As a group, equities research analysts anticipate that Wix.com will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wix.com

A number of institutional investors have recently modified their holdings of the business. Clearbridge Investments LLC grew its position in Wix.com by 5.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock valued at $140,710,000 after acquiring an additional 57,090 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in Wix.com by 6.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267,034 shares of the information services provider’s stock worth $32,851,000 after purchasing an additional 15,000 shares in the last quarter. Senvest Management LLC increased its position in Wix.com by 27.4% during the 4th 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 in the last quarter. Canada Pension Plan Investment Board lifted its stake in 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 last quarter. Finally, Nordea Investment Management AB boosted its position in Wix.com by 13.5% in the fourth quarter. Nordea Investment Management AB now owns 3,792 shares of the information services provider’s stock valued at $472,000 after buying an additional 450 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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.