UBS Group Increases Wix.com (NASDAQ:WIX) Price Target to $200.00

Wix.com (NASDAQ:WIX) had its price objective boosted by UBS Group from $160.00 to $200.00 in a research note released on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the information services provider’s stock.

Several other analysts have also recently commented on WIX. Piper Sandler cut 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 research report on Tuesday. Benchmark raised their price objective on Wix.com from $175.00 to $210.00 and gave the stock a buy rating in a research report on Tuesday. Jefferies Financial Group upped their target price on Wix.com from $150.00 to $160.00 and gave the company a buy rating in a report on Monday, May 20th. B. Riley increased their price target on shares of Wix.com from $154.00 to $180.00 and gave the stock a buy rating in a research report on Tuesday. Finally, Oppenheimer boosted their price objective on shares of Wix.com from $160.00 to $200.00 and gave the company an outperform rating in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Wix.com presently has an average rating of Moderate Buy and an average target price of $170.81.

Wix.com Trading Up 2.9 %

WIX stock opened at $170.00 on Tuesday. Wix.com has a one year low of $73.39 and a one year high of $174.09. The firm has a 50-day moving average of $132.67 and a two-hundred day moving average of $123.88. The firm has a market capitalization 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 (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.98 by $0.24. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The business had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. During the same quarter in the prior year, the firm earned ($0.42) EPS. The firm’s quarterly revenue was up 13.7% on a year-over-year basis. On average, equities research analysts anticipate that Wix.com will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently bought and sold shares of WIX. Senvest Management LLC boosted its stake in shares of Wix.com by 194.2% during the 3rd quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock worth $55,625,000 after acquiring an additional 399,944 shares in the last quarter. Clearbridge Investments LLC boosted its position in Wix.com by 43.5% during the third quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock worth $99,759,000 after purchasing an additional 329,561 shares during the period. Shannon River Fund Management LLC bought a new stake in Wix.com during the third quarter worth approximately $29,590,000. Norges Bank acquired a new position in Wix.com during the fourth quarter valued at approximately $34,554,000. Finally, Capital Fund Management S.A. raised its position in shares of Wix.com by 1,378.7% in the fourth quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock valued at $19,739,000 after purchasing an additional 149,605 shares during the period. 81.52% of the stock is currently owned by institutional investors.

About Wix.com

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.