Wix.com (NASDAQ:WIX) Earns Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Wix.com (NASDAQ:WIX) in a research report report published on Monday morning, Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock.

Other equities research analysts have also issued reports about the stock. Benchmark boosted their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a buy rating in a research note on Thursday, August 8th. Piper Sandler raised Wix.com from a neutral rating to an overweight rating and increased their target price for the company from $184.00 to $200.00 in a report on Monday. StockNews.com upgraded Wix.com from a hold rating to a buy rating in a research note on Thursday, August 15th. UBS Group increased their price objective on shares of Wix.com from $200.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Finally, KeyCorp began coverage on Wix.com in a research report on Thursday, July 25th. They set a sector weight rating on the stock. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Wix.com has a consensus rating of Moderate Buy and an average target price of $190.19.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $171.74 on Monday. Wix.com has a 1 year low of $76.90 and a 1 year high of $178.65. The company’s 50-day moving average is $160.72 and its 200 day moving average is $150.98. The stock has a market capitalization of $9.82 billion, a P/E ratio of 150.65, a P/E/G ratio of 3.50 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping the consensus estimate 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%. Wix.com’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.58 earnings per share. Research analysts anticipate that Wix.com will post 2.1 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently bought and sold shares of WIX. Northwest Bank & Trust Co purchased a new position in Wix.com in the fourth quarter worth about $26,000. Fidelis Capital Partners LLC purchased a new stake in Wix.com during the 1st quarter valued at $37,000. Industrial Alliance Investment Management Inc. lifted its position in Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares during the last quarter. Toronto Dominion Bank boosted its stake in Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares during the period. Finally, Optimist Retirement Group LLC bought a new position in Wix.com during the fourth quarter valued at $201,000. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Company Profile

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.