Wix.com (NASDAQ:WIX) Research Coverage Started at Raymond James

Raymond James started coverage on shares of Wix.com (NASDAQ:WIX) in a research note released on Wednesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $160.00 target price on the information services provider’s stock.

WIX has been the subject of several other research reports. Bank of America reissued a buy rating and issued a $126.00 price target on shares of Wix.com in a research note on Friday, December 8th. B. Riley increased their price target on shares of Wix.com from $120.00 to $141.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. UBS Group increased their price target on shares of Wix.com from $155.00 to $160.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Royal Bank of Canada upped their price objective on shares of Wix.com from $135.00 to $160.00 and gave the stock an outperform rating in a report on Thursday, February 22nd. Finally, Piper Sandler upped their price objective on shares of Wix.com from $146.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Wix.com currently has a consensus rating of Moderate Buy and an average target price of $139.53.

Wix.com Stock Up 0.7 %

WIX opened at $137.48 on Wednesday. Wix.com has a twelve month low of $73.39 and a twelve month high of $146.21. The company has a 50-day moving average price of $134.04 and a 200 day moving average price of $111.99. The company has a market cap of $7.65 billion, a PE ratio of 249.96, a price-to-earnings-growth ratio of 4.70 and a beta of 1.34.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.24. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The company had revenue of $403.80 million during the quarter, compared to analysts’ expectations of $416.87 million. During the same quarter in the prior year, the company earned ($0.42) EPS. Wix.com’s revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts expect that Wix.com will post 1.16 earnings per share for the current year.

Institutional Investors Weigh In On Wix.com

A number of hedge funds have recently added to or reduced their stakes in the business. HighMark Wealth Management LLC acquired a new stake in shares of Wix.com in the 4th quarter valued at $26,000. Northwest Bank & Trust Co acquired a new stake in shares of Wix.com in the 4th quarter valued at $26,000. Quarry LP acquired a new stake in shares of Wix.com in the 2nd quarter valued at $29,000. UniSuper Management Pty Ltd acquired a new stake in shares of Wix.com in the 2nd quarter valued at $31,000. Finally, BluePath Capital Management LLC acquired a new stake in shares of Wix.com in the 3rd quarter valued at $37,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.