Wix.com (NASDAQ:WIX – Get Free Report)‘s stock had its “overweight” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report released on Monday, Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 22.50% from the stock’s current price.
A number of other equities research analysts have also recently issued reports on the company. UBS Group upped their price objective on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $190.00 price target on shares of Wix.com in a research report on Wednesday, August 7th. Barclays raised their price objective on Wix.com from $184.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Piper Sandler raised shares of Wix.com from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $184.00 to $200.00 in a report on Monday. Finally, StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Wix.com has an average rating of “Moderate Buy” and an average target price of $190.19.
Check Out Our Latest Research Report on Wix.com
Wix.com Stock Performance
Wix.com (NASDAQ:WIX – Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. The firm 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 revenue 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. On average, research analysts forecast that Wix.com will post 2.01 earnings per share for the current year.
Institutional Investors Weigh In On Wix.com
A number of large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Wix.com during the 4th quarter worth approximately $34,554,000. Aigen Investment Management LP acquired a new stake in shares of Wix.com in the 4th quarter valued at $244,000. US Bancorp DE boosted its holdings in shares of Wix.com by 105.8% in the 4th quarter. US Bancorp DE now owns 7,076 shares of the information services provider’s stock valued at $870,000 after purchasing an additional 3,637 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Wix.com by 2.7% in the 4th quarter. TD Asset Management Inc now owns 14,913 shares of the information services provider’s stock valued at $1,835,000 after purchasing an additional 386 shares during the last quarter. Finally, Crescent Park Management L.P. raised its holdings in shares of Wix.com by 16.5% during the 4th quarter. Crescent Park Management L.P. now owns 106,886 shares of the information services provider’s stock worth $13,149,000 after buying an additional 15,131 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.
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.
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