Scotiabank Lowers Wix.com (NASDAQ:WIX) Price Target to $125.00

Wix.com (NASDAQ:WIXGet Free Report) had its price objective decreased by Scotiabank from $175.00 to $125.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “sector outperform” rating on the information services provider’s stock. Scotiabank’s price objective indicates a potential upside of 37.12% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Barclays cut their price objective on Wix.com from $210.00 to $205.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 21st. Oppenheimer decreased their price objective on shares of Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a report on Monday, February 2nd. Citizens Jmp dropped their target price on shares of Wix.com from $185.00 to $125.00 and set a “market outperform” rating on the stock in a research note on Thursday, January 22nd. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price target on shares of Wix.com in a research note on Wednesday. Finally, Morgan Stanley lowered their price target on shares of Wix.com from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and a consensus price target of $151.45.

Get Our Latest Analysis on Wix.com

Wix.com Stock Performance

WIX traded up $7.38 during mid-day trading on Thursday, reaching $91.16. 2,144,581 shares of the stock were exchanged, compared to its average volume of 2,341,057. Wix.com has a 1 year low of $60.22 and a 1 year high of $195.15. The stock has a market capitalization of $5.11 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39. The company has a 50 day moving average price of $83.51 and a two-hundred day moving average price of $116.16.

Wix.com (NASDAQ:WIXGet Free Report) last released its quarterly earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.36 by $0.45. Wix.com had a net margin of 7.20% and a negative return on equity of 102.59%. The company had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. During the same period last year, the firm earned $2.10 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. Sell-side analysts expect that Wix.com will post 3.65 EPS for the current fiscal year.

Wix.com declared that its board has authorized a share buyback plan on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information services provider to buy up to 40.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently modified their holdings of WIX. Ameriprise Financial Inc. grew its stake in Wix.com by 128.3% during the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after acquiring an additional 2,606,204 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after purchasing an additional 1,609,989 shares during the period. Senvest Management LLC grew its position in shares of Wix.com by 20.9% during the 4th quarter. Senvest Management LLC now owns 3,008,480 shares of the information services provider’s stock valued at $312,551,000 after purchasing an additional 519,805 shares in the last quarter. Lone Pine Capital LLC purchased a new position in shares of Wix.com during the 2nd quarter valued at $342,485,000. Finally, Acadian Asset Management LLC increased its holdings in shares of Wix.com by 0.4% in the second quarter. Acadian Asset Management LLC now owns 2,119,805 shares of the information services provider’s stock worth $335,852,000 after purchasing an additional 7,729 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Key Headlines Impacting Wix.com

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About Wix.com

(Get Free Report)

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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