Wix.com (NASDAQ:WIX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a research report released on Thursday.

WIX has been the subject of several other research reports. B. Riley boosted their price objective on shares of Wix.com from $154.00 to $180.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. Benchmark upped their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a buy rating in a research report on Thursday, August 8th. Morgan Stanley upped their target price on shares of Wix.com from $143.00 to $187.00 and gave the company an equal weight rating in a research report on Tuesday, May 21st. KeyCorp initiated coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a sector weight rating for the company. Finally, Jefferies Financial Group upped their target price on shares of Wix.com from $150.00 to $160.00 and gave the company a buy rating in a research report on Monday, May 20th. Four research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $188.47.

Wix.com Stock Up 0.4 %

WIX stock opened at $163.64 on Thursday. Wix.com has a twelve month low of $76.90 and a twelve month high of $178.65. The company has a market cap of $8.97 billion, a PE ratio of 143.55, a price-to-earnings-growth ratio of 3.53 and a beta of 1.47. The business’s 50-day simple moving average is $159.89 and its 200 day simple moving average is $145.26.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The company had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.58 earnings per share. On average, equities research analysts anticipate that Wix.com will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in WIX. Dorsal Capital Management LP boosted its position in shares of Wix.com by 23.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after acquiring an additional 250,000 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Wix.com by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after acquiring an additional 117,146 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Wix.com by 1.8% during the 1st quarter. Clearbridge Investments LLC now owns 1,164,136 shares of the information services provider’s stock worth $160,045,000 after acquiring an additional 20,342 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Wix.com during the 4th quarter worth approximately $34,554,000. 81.52% of the stock is owned by institutional investors.

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.