Wix.com (NASDAQ:WIX) Stock Rating Reaffirmed by JMP Securities

JMP Securities reiterated their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a research note issued to investors on Tuesday, Benzinga reports. They currently have a $150.00 price objective on the information services provider’s stock.

WIX has been the topic of a number of other reports. StockNews.com raised shares of Wix.com from a hold rating to a buy rating in a report on Saturday, April 13th. Barclays lifted their target price on shares of Wix.com from $147.00 to $160.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Raymond James began coverage on Wix.com in a report on Wednesday, March 27th. They issued an outperform rating and a $160.00 target price for the company. UBS Group increased their price target on Wix.com from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Finally, Benchmark boosted their price objective on Wix.com from $132.00 to $175.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $144.29.

Wix.com Stock Up 0.3 %

NASDAQ WIX opened at $119.83 on Tuesday. Wix.com has a 52 week low of $73.39 and a 52 week high of $146.21. The business has a 50 day moving average price of $132.69 and a 200-day moving average price of $118.35. The company has a market cap of $6.67 billion, a price-to-earnings ratio of 217.87, a P/E/G ratio of 4.09 and a beta of 1.34.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.98 by $0.24. The firm had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.42) earnings per share. On average, equities research analysts anticipate that Wix.com will post 1.16 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC boosted its position in Wix.com by 194.2% during the third quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock valued at $55,625,000 after buying an additional 399,944 shares during the period. Clearbridge Investments LLC lifted its holdings in Wix.com by 43.5% in the 3rd quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock worth $99,759,000 after buying an additional 329,561 shares during the period. Shannon River Fund Management LLC bought a new stake in shares of Wix.com in the 3rd quarter worth approximately $29,590,000. Norges Bank purchased a new position in shares of Wix.com during the fourth quarter valued at approximately $34,554,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Wix.com by 5,893.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 263,012 shares of the information services provider’s stock valued at $24,145,000 after acquiring an additional 258,624 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other 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.