Wix.com (NASDAQ:WIX) Rating Reiterated by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Wix.com (NASDAQ:WIX) in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a $190.00 target price on the information services provider’s stock.

A number of other research firms have also recently weighed in on WIX. JPMorgan Chase & Co. upped their price target on Wix.com from $148.00 to $195.00 and gave the stock a neutral rating in a report on Wednesday, May 29th. Barclays lifted their price target on shares of Wix.com from $160.00 to $184.00 and gave the stock an overweight rating in a research note on Tuesday, May 21st. Citigroup increased their price target on Wix.com from $175.00 to $202.00 and gave the company a buy rating in a report on Tuesday, May 21st. JMP Securities restated a market outperform rating and set a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. Finally, Piper Sandler lowered Wix.com from an overweight rating to a neutral rating and upped their target price for the company from $165.00 to $184.00 in a research report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $183.56.

Wix.com Trading Down 0.8 %

WIX traded down $1.27 during trading on Wednesday, hitting $162.45. 329,457 shares of the company’s stock were exchanged, compared to its average volume of 612,127. Wix.com has a 1 year low of $76.90 and a 1 year high of $178.65. The stock has a 50 day moving average price of $160.81 and a 200 day moving average price of $143.90. The firm has a market cap of $8.91 billion, a P/E ratio of 142.50, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. The firm had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.58 EPS. Analysts forecast that Wix.com will post 1.91 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Asset Management Inc increased its stake in shares of Wix.com by 2.9% in the second quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock valued at $764,000 after purchasing an additional 136 shares during the period. Signaturefd LLC grew its stake in shares of Wix.com by 4.7% in the second quarter. Signaturefd LLC now owns 3,269 shares of the information services provider’s stock worth $520,000 after purchasing an additional 146 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Wix.com by 7.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 2,678 shares of the information services provider’s stock valued at $333,000 after purchasing an additional 192 shares during the period. Natixis Advisors L.P. lifted its holdings in Wix.com by 2.0% in the fourth quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock worth $1,350,000 after purchasing an additional 214 shares during the period. Finally, Northwest Bank & Trust Co bought a new position in Wix.com in the 4th quarter valued at about $26,000. 81.52% of the stock is currently 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.