Wix.com (NASDAQ:WIX) Raised to Hold at Piper Sandler

Wix.com (NASDAQ:WIX) was upgraded by analysts at Piper Sandler to a “hold” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also issued reports on the company. Benchmark dropped their price target on Wix.com from $185.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Weiss Ratings downgraded shares of Wix.com from a “hold (c-)” rating to a “sell (d)” rating in a research report on Friday, March 6th. UBS Group restated a “buy” rating and issued a $145.00 target price on shares of Wix.com in a research report on Friday, March 6th. Oppenheimer decreased their price target on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a research note on Monday, February 2nd. Finally, Robert W. Baird lowered shares of Wix.com from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $115.00 to $90.00 in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $134.90.

Wix.com Stock Up 1.4%

Shares of WIX opened at $88.09 on Wednesday. Wix.com has a fifty-two week low of $60.22 and a fifty-two week high of $191.24. The firm has a market cap of $5.14 billion, a PE ratio of 108.75, a price-to-earnings-growth ratio of 2.79 and a beta of 1.39. The company’s fifty day moving average is $81.63 and its two-hundred day moving average is $114.38.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The company had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. During the same period in the previous year, the firm earned $2.10 earnings per share. Wix.com’s revenue for the quarter was up 13.9% on a year-over-year basis. As a group, equities research analysts anticipate that Wix.com will post 3.65 earnings per share for the current year.

Wix.com announced that its board has approved a stock buyback program on Wednesday, January 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information services provider to purchase up to 40.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its holdings in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after purchasing an additional 132 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after buying an additional 77 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Wix.com during the 4th quarter worth about $27,000. Geneos Wealth Management Inc. increased its holdings in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 215 shares during the last quarter. Finally, Employees Retirement System of Texas increased its holdings in shares of Wix.com by 129.9% during the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock valued at $46,000 after acquiring an additional 252 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.