Wix.com (NASDAQ:WIX) Stock Price Target Raised at Morgan Stanley

Wix.com (NASDAQ:WIX) had its price objective lifted by Morgan Stanley from $65.00 to $73.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information services provider’s stock. Morgan Stanley‘s price target would suggest a potential upside of 5.22% from the company’s previous close.

Several other equities research analysts have also recently commented on WIX. Raymond James Financial cut Wix.com from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $75.00 to $70.00 in a research report on Thursday, July 30th. Wells Fargo & Company reduced their price objective on Wix.com from $64.00 to $63.00 and set an “equal weight” rating for the company in a report on Wednesday. Needham & Company LLC boosted their target price on Wix.com from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Wall Street Zen upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Finally, Benchmark reaffirmed a “buy” rating on shares of Wix.com in a report on Wednesday, August 26th. Ten equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $88.95.

Wix.com Trading Up 7.8%

WIX stock traded up $5.00 during midday trading on Wednesday, hitting $69.38. The company’s stock had a trading volume of 465,495 shares, compared to its average volume of 1,914,144. The company has a market cap of $4.05 billion, a PE ratio of -19.69, a P/E/G ratio of 33.15 and a beta of 1.06. Wix.com has a 12 month low of $40.16 and a 12 month high of $135.00. The firm’s 50-day moving average is $76.88 and its 200-day moving average is $70.32.

Wix.com (NASDAQ:WIX) last posted its earnings results on Tuesday, November 10th. The information services provider reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. The business had revenue of $570.17 million during the quarter, compared to analyst estimates of $566.27 million. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.80 EPS. Analysts expect that Wix.com will post 0.24 earnings per share for the current year.

Insider Activity

In other news, insider Shelly B. Meyer sold 479 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $95.00, for a total value of $45,505.00. Following the transaction, the insider directly owned 183,010 shares in the company, valued at $17,385,950. This trade represents a 0.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Omer Shai purchased 490 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was purchased at an average price of $59.89 per share, for a total transaction of $29,346.10. Following the completion of the purchase, the chief marketing officer owned 515,879 shares in the company, valued at approximately $30,895,993.31. The trade was a 0.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders purchased 2,622 shares of company stock worth $157,032. Insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Wix.com

A number of large investors have recently made changes to their positions in WIX. Engineers Gate Manager LP lifted its stake in shares of Wix.com by 378.0% in the 2nd quarter. Engineers Gate Manager LP now owns 34,750 shares of the information services provider’s stock worth $1,577,000 after purchasing an additional 27,480 shares during the period. Empowered Funds LLC purchased a new position in shares of Wix.com in the first quarter worth approximately $2,381,000. Readystate Asset Management LP bought a new stake in Wix.com during the second quarter valued at approximately $485,000. Quantitative Investment Management LLC bought a new stake in Wix.com during the second quarter valued at approximately $605,000. Finally, Quantinno Capital Management LP grew its position in Wix.com by 155.6% during the first quarter. Quantinno Capital Management LP now owns 122,722 shares of the information services provider’s stock valued at $11,054,000 after buying an additional 74,716 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Key Headlines Impacting Wix.com

Investors following WIX have been watching these headlines:

• Positive Sentiment: Q3 revenue was $570.17 million, up 12.9% year over year and ahead of estimates; adjusted earnings of $1.42 per share also topped consensus. Wix Q3 results
• Positive Sentiment: Base44 is a potential growth driver: its annual recurring revenue approached $250 million within two years of acquisition, and its Q3 non-GAAP gross margin was nearly 60%. Three takeaways for long-term investors
• Negative Sentiment: Recent target cuts reinforce caution: RBC lowered its target to $58, Wells Fargo to $63, and JPMorgan to $59; Bank of America also downgraded WIX to Underperform. These actions suggest some analysts see limited near-term upside relative to execution and cash-flow risks.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.