Cantor Fitzgerald Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its price target increased by Cantor Fitzgerald from $80.00 to $90.00 in a report released on Monday, Marketbeat Ratings reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Cantor Fitzgerald’s target price points to a potential upside of 13.87% from the company’s current price.

A number of other research firms have also issued reports on WIX. Needham & Company LLC lifted their price objective on shares of Wix.com from $80.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Wells Fargo & Company upped their target price on shares of Wix.com from $46.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 5th. Weiss Ratings raised shares of Wix.com from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, September 11th. Morgan Stanley lowered shares of Wix.com from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $112.00 to $60.00 in a report on Tuesday, July 21st. Finally, Evercore set a $95.00 price target on shares of Wix.com in a research note on Tuesday, August 4th. Eleven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Wix.com has a consensus rating of “Hold” and an average price target of $91.76.

Wix.com Stock Performance

Shares of WIX opened at $79.04 on Monday. The stock’s 50-day moving average is $77.95 and its two-hundred day moving average is $65.46. Wix.com has a 12 month low of $40.16 and a 12 month high of $148.33.

Wix.com (NASDAQ:WIX) last issued its earnings results on Tuesday, August 4th. The information services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.26. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%. The company had revenue of $563.06 million during the quarter, compared to the consensus estimate of $552.56 million. During the same quarter in the prior year, the business earned $2.28 earnings per share. The company’s revenue was up 14.9% compared to the same quarter last year. As a group, equities analysts forecast that Wix.com will post 0.24 EPS for the current year.

Insider Buying and Selling

In other Wix.com news, CFO Lior Shemesh purchased 456 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were bought at an average price of $59.89 per share, with a total value of $27,309.84. Following the completion of the acquisition, the chief financial officer owned 221,567 shares in the company, valued at approximately $13,269,647.63. This represents a 0.21% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ron Gutler sold 5,718 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $85.42, for a total value of $488,431.56. Following the transaction, the director owned 15,631 shares of the company’s stock, valued at approximately $1,335,200.02. This represents a 26.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have acquired 2,622 shares of company stock valued at $157,032 in the last ninety days. Insiders own 6.20% of the company’s stock.

Institutional Trading of Wix.com

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in Wix.com by 74.1% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 177 shares during the period. Versant Capital Management Inc grew its holdings in shares of Wix.com by 537.6% during the 3rd quarter. Versant Capital Management Inc now owns 542 shares of the information services provider’s stock worth $39,000 after purchasing an additional 457 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Wix.com during the 3rd quarter worth approximately $173,000. Lombard Odier Asset Management USA Corp bought a new stake in shares of Wix.com during the first quarter valued at approximately $210,000. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of Wix.com during the third quarter valued at approximately $220,000. Institutional investors own 81.52% of the company’s stock.

About Wix.com

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.