Piper Sandler Lowers Wix.com (NASDAQ:WIX) to Neutral

Piper Sandler cut shares of Wix.com (NASDAQ:WIX) from an overweight rating to a neutral rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $184.00 target price on the information services provider’s stock, up from their prior target price of $165.00.

A number of other brokerages have also commented on WIX. Jefferies Financial Group raised their target price on shares of Wix.com from $150.00 to $160.00 and gave the stock a buy rating in a research report on Monday, May 20th. Needham & Company LLC reaffirmed a buy rating and issued a $160.00 price target on shares of Wix.com in a report on Monday, May 20th. B. Riley increased their price objective on shares of Wix.com from $120.00 to $141.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. Barclays lifted their price target on Wix.com from $147.00 to $160.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Finally, UBS Group upped their target price on Wix.com from $155.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $170.81.

Wix.com Stock Up 2.9 %

NASDAQ:WIX opened at $170.00 on Tuesday. The stock has a market cap of $9.72 billion, a PE ratio of 149.12, a P/E/G ratio of 6.48 and a beta of 1.34. Wix.com has a 52 week low of $73.39 and a 52 week high of $174.09. The business’s 50-day simple moving average is $132.67 and its two-hundred day simple moving average is $123.88.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.24. The business had revenue of $403.80 million during 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 revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the company earned ($0.42) EPS. Sell-side analysts anticipate that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wix.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. DekaBank Deutsche Girozentrale boosted its holdings in Wix.com by 5.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock valued at $226,000 after purchasing an additional 129 shares during the last quarter. HighMark Wealth Management LLC acquired a new position in shares of Wix.com in the fourth quarter worth $26,000. Natixis Advisors L.P. grew its stake in Wix.com by 2.0% during the 4th quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock worth $1,350,000 after purchasing an additional 214 shares in the last quarter. Northwest Bank & Trust Co acquired a new stake in Wix.com in the fourth quarter valued at approximately $26,000. Finally, Fidelis Capital Partners LLC acquired a new position in shares of Wix.com during the first quarter worth $37,000. 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.