Needham & Company LLC Reiterates Buy Rating for Wix.com (NASDAQ:WIX)

Wix.com (NASDAQ:WIX)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They presently have a $235.00 price objective on the information services provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 3.17% from the stock’s previous close.

WIX has been the topic of a number of other reports. Bank of America raised their price target on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Cantor Fitzgerald raised their price objective on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $240.00 target price on shares of Wix.com in a report on Tuesday. Barclays boosted their price target on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $248.00 to $276.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and a consensus target price of $237.89.

Wix.com Stock Performance

WIX stock opened at $227.78 on Wednesday. Wix.com has a one year low of $117.58 and a one year high of $247.11. The firm has a market cap of $12.49 billion, a PE ratio of 142.36, a P/E/G ratio of 2.49 and a beta of 1.58. The firm’s fifty day moving average is $226.72 and its 200 day moving average is $192.17.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, February 19th. The information services provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $1.61 by ($0.69). Wix.com had a net margin of 5.47% and a negative return on equity of 52.68%. Research analysts predict that Wix.com will post 2.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently made changes to their positions in the stock. Cullen Frost Bankers Inc. increased its holdings in Wix.com by 9.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock valued at $130,000 after purchasing an additional 55 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock worth $54,000 after buying an additional 56 shares during the period. Global Retirement Partners LLC grew its stake in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after buying an additional 58 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Wix.com by 2.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock valued at $502,000 after buying an additional 63 shares during the period. Finally, Vestcor Inc lifted its stake in Wix.com by 8.0% during the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock worth $183,000 after acquiring an additional 63 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.