Wix.com (NASDAQ:WIX) Price Target Raised to $160.00

Wix.com (NASDAQ:WIX) had its price target hoisted by Jefferies Financial Group from $150.00 to $160.00 in a research report report published on Monday morning, Benzinga reports. Jefferies Financial Group currently has a buy rating on the information services provider’s stock.

Other research analysts also recently issued research reports about the company. Barclays boosted their price target on Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Raymond James started coverage on Wix.com in a research note on Wednesday, March 27th. They issued an outperform rating and a $160.00 price target for the company. B. Riley boosted their price target on Wix.com from $120.00 to $141.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Needham & Company LLC reaffirmed a buy rating and issued a $160.00 price target on shares of Wix.com in a research note on Monday. Finally, JMP Securities reaffirmed a market outperform rating and issued a $150.00 price target on shares of Wix.com in a research note on Tuesday, April 30th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $170.81.

Wix.com Stock Performance

WIX opened at $167.19 on Monday. Wix.com has a fifty-two week low of $73.39 and a fifty-two week high of $174.09. The company has a market capitalization of $9.30 billion, a P/E ratio of 146.66, a P/E/G ratio of 3.84 and a beta of 1.34. The stock has a fifty day moving average of $132.13 and a 200-day moving average of $123.59.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a negative return on equity of 71.38% and a net margin of 4.20%. The company had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. During the same quarter last year, the firm earned ($0.42) earnings per share. The company’s revenue was up 13.7% on a year-over-year basis. On average, equities research analysts predict that Wix.com will post 1.75 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

Institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Wix.com by 6.0% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267,034 shares of the information services provider’s stock valued at $32,851,000 after acquiring an additional 15,000 shares during the last quarter. Senvest Management LLC boosted its holdings in Wix.com by 27.4% in the fourth quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock valued at $94,995,000 after acquiring an additional 166,254 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Wix.com by 112.1% in the third quarter. Canada Pension Plan Investment Board now owns 48,430 shares of the information services provider’s stock valued at $4,446,000 after acquiring an additional 25,600 shares during the last quarter. Clearbridge Investments LLC lifted its stake in Wix.com by 5.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock valued at $140,710,000 after buying an additional 57,090 shares during the period. Finally, Nordea Investment Management AB lifted its stake in Wix.com by 13.5% in the fourth quarter. Nordea Investment Management AB now owns 3,792 shares of the information services provider’s stock valued at $472,000 after buying an additional 450 shares during the period. 81.52% of the stock is currently owned by institutional investors.

About Wix.com

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.