Wix.com’s (WIX) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a $180.00 target price on the information services provider’s stock.

Other analysts have also issued reports about the stock. B. Riley upped their price target on shares of Wix.com from $154.00 to $180.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. Benchmark upped their price target on shares of Wix.com from $175.00 to $210.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. Piper Sandler lowered shares of Wix.com from an overweight rating to a neutral rating and upped their price target for the stock from $165.00 to $184.00 in a research note on Tuesday, May 21st. Morgan Stanley upped their price target on shares of Wix.com from $143.00 to $187.00 and gave the stock an equal weight rating in a research note on Tuesday, May 21st. Finally, Citigroup upped their price target on shares of Wix.com from $175.00 to $202.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $180.31.

Wix.com Trading Up 0.2 %

NASDAQ WIX opened at $155.81 on Thursday. Wix.com has a 52 week low of $76.90 and a 52 week high of $178.65. The stock has a market cap of $8.91 billion, a price-to-earnings ratio of 136.68, a price-to-earnings-growth ratio of 3.67 and a beta of 1.47. The company has a 50-day moving average price of $163.09 and a two-hundred day moving average price of $141.95.

Wix.com (NASDAQ:WIX) last posted its earnings results on Monday, May 20th. The information services provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.15 by $0.18. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The firm had revenue of $419.78 million during the quarter, compared to analysts’ expectations of $417.71 million. As a group, equities research analysts expect that Wix.com will post 1.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC lifted its position in shares of Wix.com by 3.4% in the 2nd quarter. ARK Investment Management LLC now owns 17,795 shares of the information services provider’s stock valued at $2,831,000 after acquiring an additional 593 shares in the last quarter. Liontrust Investment Partners LLP acquired a new position in Wix.com in the 2nd quarter valued at approximately $434,000. Hennion & Walsh Asset Management Inc. increased its stake in Wix.com by 13.8% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 2,856 shares of the information services provider’s stock valued at $454,000 after buying an additional 347 shares during the period. Raymond James & Associates increased its stake in Wix.com by 45.5% in the 2nd quarter. Raymond James & Associates now owns 38,078 shares of the information services provider’s stock valued at $6,057,000 after buying an additional 11,913 shares during the period. Finally, M&G Plc increased its stake in Wix.com by 12.4% in the 2nd quarter. M&G Plc now owns 65,387 shares of the information services provider’s stock valued at $10,397,000 after buying an additional 7,231 shares during the period. Hedge funds and other institutional investors 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.