Raymond James started coverage on shares of Wix.com (NASDAQ:WIX – Free Report) in a research report report published on Wednesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $160.00 target price on the information services provider’s stock.
Several other analysts have also issued reports on the stock. Benchmark boosted their price target on shares of Wix.com from $132.00 to $175.00 and gave the company a buy rating in a research report on Thursday, February 22nd. UBS Group boosted their price target on shares of Wix.com from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, February 22nd. B. Riley boosted their price target on shares of Wix.com from $120.00 to $141.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. Royal Bank of Canada upped their target price 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, JMP Securities upped their target price on shares of Wix.com from $130.00 to $150.00 and gave the stock a market outperform rating in a report on Wednesday, January 24th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Wix.com has a consensus rating of Moderate Buy and an average price target of $139.53.
Check Out Our Latest Stock Report on WIX
Wix.com Stock Up 0.7 %
Wix.com (NASDAQ:WIX – Get Free Report) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $416.87 million. During the same quarter in the previous year, the firm posted ($0.42) earnings per share. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Wix.com will post 1.16 earnings per share for the current year.
Hedge Funds Weigh In On Wix.com
A number of institutional investors have recently made changes to their positions in WIX. Canada Pension Plan Investment Board boosted its stake in shares of Wix.com by 112.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 48,430 shares of the information services provider’s stock valued at $4,446,000 after purchasing an additional 25,600 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Wix.com by 13.5% in the 4th quarter. Nordea Investment Management AB now owns 3,792 shares of the information services provider’s stock valued at $472,000 after purchasing an additional 450 shares in the last quarter. Boston Partners boosted its position in Wix.com by 83.8% during the 3rd quarter. Boston Partners now owns 29,658 shares of the information services provider’s stock valued at $2,723,000 after buying an additional 13,518 shares during the period. 13D Management LLC boosted its position in Wix.com by 49.1% during the 3rd quarter. 13D Management LLC now owns 96,336 shares of the information services provider’s stock valued at $8,844,000 after buying an additional 31,736 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in Wix.com during the 3rd quarter valued at $1,208,000. Institutional investors own 81.52% of the company’s stock.
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.
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