Barclays Trims Wix.com (NASDAQ:WIX) Target Price to $184.00

Wix.com (NASDAQ:WIX) had its price target reduced by stock analysts at Barclays from $186.00 to $184.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. Barclays‘s price objective indicates a potential upside of 14.35% from the company’s current price.

Several other brokerages have also issued reports on WIX. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. UBS Group lifted their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Benchmark lifted their price target on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a report on Monday, August 5th. Finally, KeyCorp assumed coverage on shares of Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Stock Performance

NASDAQ WIX traded down $6.26 during trading on Tuesday, hitting $160.91. The stock had a trading volume of 124,691 shares, compared to its average volume of 566,804. The stock has a market capitalization of $9.20 billion, a price-to-earnings ratio of 140.46, a P/E/G ratio of 3.58 and a beta of 1.47. The stock has a 50 day simple moving average of $160.85 and a 200 day simple moving average of $151.52. Wix.com has a one year low of $76.90 and a one year high of $178.65.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The company’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company posted $0.58 earnings per share. On average, sell-side analysts predict that Wix.com will post 2.1 EPS for the current year.

Institutional Trading of Wix.com

Institutional investors and hedge funds have recently modified their holdings of the stock. Northwest Bank & Trust Co purchased a new stake in Wix.com during the 4th quarter valued at about $26,000. Fidelis Capital Partners LLC acquired a new position in Wix.com in the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. boosted its holdings in Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after purchasing an additional 488 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 124 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in Wix.com in the 1st quarter valued at about $214,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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.