Wix.com’s (WIX) Buy Rating Reaffirmed at Needham & Company LLC

Wix.com (NASDAQ:WIX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a note issued to investors on Monday,Benzinga reports. They currently have a $80.00 target price on the information services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 74.25% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company decreased their price target on Wix.com from $54.00 to $47.00 and set an “equal weight” rating for the company in a report on Tuesday, June 9th. Royal Bank Of Canada dropped their price objective on shares of Wix.com from $60.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 9th. Robert W. Baird lowered shares of Wix.com from an “outperform” rating to a “neutral” rating and cut their target price for the company from $115.00 to $90.00 in a report on Monday, March 9th. Jefferies Financial Group decreased their target price on shares of Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Finally, Wall Street Zen downgraded shares of Wix.com from a “buy” rating to a “hold” rating in a report on Sunday, March 8th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $97.95.

Wix.com Stock Performance

Shares of WIX opened at $45.91 on Monday. The business’s 50-day moving average is $64.81 and its two-hundred day moving average is $80.50. The company has a market capitalization of $2.68 billion, a P/E ratio of -58.86 and a beta of 0.92. Wix.com has a fifty-two week low of $42.66 and a fifty-two week high of $190.93.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.53). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The company had revenue of $541.17 million during the quarter, compared to analyst estimates of $544.04 million. During the same period last year, the firm earned $1.69 EPS. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. Analysts forecast that Wix.com will post -0.27 EPS for the current year.

Institutional Trading of Wix.com

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its position in shares of Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after buying an additional 132 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in Wix.com in the 4th quarter worth $27,000. Geneos Wealth Management Inc. increased its holdings in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares in the last quarter. Employees Retirement System of Texas raised its position in Wix.com by 129.9% during the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after acquiring an additional 252 shares during the period. Finally, Banque Cantonale Vaudoise raised its position in Wix.com by 464.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider’s stock worth $52,000 after acquiring an additional 409 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

About Wix.com

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.