Cantor Fitzgerald Reiterates Overweight Rating for Wix.com (NASDAQ:WIX)

Wix.com (NASDAQ:WIX)‘s stock had its “overweight” rating reissued by equities research analysts at Cantor Fitzgerald in a research report issued on Monday, Benzinga reports. They presently have a $200.00 price objective on the information services provider’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 26.49% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. UBS Group boosted their price target on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $184.00 to $200.00 in a report on Monday, September 23rd. Barclays reduced their price objective on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, KeyCorp began coverage on Wix.com in a research note on Thursday, July 25th. They set a “sector weight” rating on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.06.

Wix.com Price Performance

NASDAQ:WIX opened at $158.11 on Monday. Wix.com has a 1-year low of $76.90 and a 1-year high of $178.65. The stock has a market cap of $9.04 billion, a P/E ratio of 138.69, a PEG ratio of 3.40 and a beta of 1.48. The firm has a 50-day moving average of $160.80 and a two-hundred day moving average of $152.35.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The firm’s revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.58 EPS. As a group, equities analysts expect that Wix.com will post 2.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Dorsal Capital Management LP lifted its stake in shares of Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after purchasing an additional 250,000 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Wix.com by 10.7% in the fourth quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after buying an additional 117,146 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Wix.com by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after acquiring an additional 33,338 shares in the last quarter. Renaissance Technologies LLC increased its holdings 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 valued at $124,973,000 after acquiring an additional 171,500 shares during the last quarter. Finally, Eminence Capital LP raised its stake in shares of Wix.com by 7.3% in the 2nd quarter. Eminence Capital LP now owns 244,424 shares of the information services provider’s stock valued at $38,881,000 after acquiring an additional 16,529 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.