Wix.com (NASDAQ:WIX) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Wix.com (NASDAQ:WIX) in a research report sent to investors on Monday morning, Benzinga reports. They currently have a $200.00 price objective on the information services provider’s stock.

A number of other research firms also recently commented on WIX. Needham & Company LLC reiterated a buy rating and set a $190.00 price objective on shares of Wix.com in a research note on Wednesday, August 7th. Barclays increased their price target on shares of Wix.com from $184.00 to $186.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Piper Sandler raised Wix.com from a neutral rating to an overweight rating and boosted their price objective for the company from $184.00 to $200.00 in a report on Monday, September 23rd. Benchmark increased their target price on Wix.com from $210.00 to $225.00 and gave the stock a buy rating in a report on Thursday, August 8th. Finally, JMP Securities reiterated a market outperform rating and issued a $180.00 price target on shares of Wix.com in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Wix.com presently has an average rating of Moderate Buy and an average target price of $190.06.

Wix.com Price Performance

Wix.com stock opened at $160.09 on Monday. Wix.com has a 12-month low of $76.90 and a 12-month high of $178.65. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 140.43, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47. The firm’s fifty day moving average price is $160.62 and its 200 day moving average price is $151.67.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Wix.com’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 EPS. Analysts forecast that Wix.com will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

Several hedge funds have recently bought and sold shares of WIX. US Bancorp DE raised its holdings in shares of Wix.com by 105.8% during the fourth quarter. US Bancorp DE now owns 7,076 shares of the information services provider’s stock valued at $870,000 after buying an additional 3,637 shares during the last quarter. TD Asset Management Inc boosted its position in Wix.com by 2.7% during the 4th quarter. TD Asset Management Inc now owns 14,913 shares of the information services provider’s stock worth $1,835,000 after acquiring an additional 386 shares during the period. California State Teachers Retirement System grew its stake in shares of Wix.com by 2.0% in the fourth quarter. California State Teachers Retirement System now owns 51,110 shares of the information services provider’s stock worth $6,288,000 after purchasing an additional 1,026 shares in the last quarter. APG Asset Management US Inc. acquired a new position in shares of Wix.com during the fourth quarter valued at $1,336,000. Finally, Tairen Capital Ltd bought a new stake in shares of Wix.com during the fourth quarter valued at about $1,912,000. 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.