JMP Securities Reaffirms “Market Outperform” Rating for Wix.com (NASDAQ:WIX)

Wix.com (NASDAQ:WIX)‘s stock had its “market outperform” rating restated by stock analysts at JMP Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $150.00 price target on the information services provider’s stock. JMP Securities’ target price would indicate a potential upside of 25.40% from the company’s previous close.

Several other research analysts also recently commented on the company. Piper Sandler raised their price objective on Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Wix.com in a research note on Wednesday, February 21st. Benchmark lifted their price objective on Wix.com from $132.00 to $175.00 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 research report on Thursday, February 22nd. Finally, UBS Group lifted their price target on Wix.com from $155.00 to $160.00 and gave the stock a “buy” rating in a 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. According to data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average price target of $144.29.

Wix.com Trading Down 1.3 %

WIX traded down $1.60 during midday trading on Tuesday, reaching $119.62. The company’s stock had a trading volume of 167,144 shares, compared to its average volume of 537,721. The stock’s 50-day moving average is $133.71 and its 200-day moving average is $117.84. 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 $6.66 billion, a price-to-earnings ratio of 217.31, a PEG ratio of 4.16 and a beta of 1.33.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in Wix.com by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after acquiring an additional 117,146 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Wix.com by 5.3% in the fourth quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock valued at $140,710,000 after purchasing an additional 57,090 shares during the period. Senvest Management LLC boosted its holdings in Wix.com by 27.4% in the fourth quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock worth $94,995,000 after acquiring an additional 166,254 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Wix.com by 8.2% in the 3rd quarter. Sei Investments Co. now owns 539,018 shares of the information services provider’s stock worth $49,482,000 after acquiring an additional 40,831 shares during the last quarter. Finally, Meitav Investment House Ltd. boosted its holdings in Wix.com by 17.4% during the 3rd quarter. Meitav Investment House Ltd. now owns 534,708 shares of the information services provider’s stock worth $49,032,000 after acquiring an additional 79,349 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.