Wix.com (NASDAQ:WIX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a report released on Saturday.

WIX has been the topic of several other research reports. Barclays boosted their price target on Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. JMP Securities lifted their price objective on Wix.com from $130.00 to $150.00 and gave the company a market outperform rating in a research report on Wednesday, January 24th. B. Riley lifted their price objective on Wix.com from $120.00 to $141.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. UBS Group lifted their price objective 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, Royal Bank of Canada lifted their price objective on Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. One equities research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Wix.com has an average rating of Moderate Buy and a consensus target price of $142.00.

Wix.com Trading Down 0.2 %

Shares of NASDAQ:WIX opened at $123.71 on Friday. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21. The firm has a market capitalization of $6.88 billion, a PE ratio of 224.93, a PEG ratio of 4.38 and a beta of 1.33. The business’s 50 day moving average is $135.18 and its 200-day moving average is $115.46.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of WIX. HighMark Wealth Management LLC acquired a new position in Wix.com during the fourth quarter valued at approximately $26,000. Northwest Bank & Trust Co acquired a new position in Wix.com during the fourth quarter valued at approximately $26,000. Quarry LP acquired a new position in Wix.com during the second quarter valued at approximately $29,000. UniSuper Management Pty Ltd acquired a new position in Wix.com during the second quarter valued at approximately $31,000. Finally, BluePath Capital Management LLC acquired a new position in Wix.com during the third quarter valued at approximately $37,000. 81.52% of the stock is 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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.