Piper Sandler lowered shares of Wix.com (NASDAQ:WIX – Free Report) from an overweight rating to a neutral rating in a research report released on Tuesday, Marketbeat.com reports. The brokerage currently has $184.00 price objective on the information services provider’s stock, up from their previous price objective of $165.00.
Other equities research analysts also recently issued reports about the company. Benchmark reaffirmed a buy rating and issued a $175.00 price target on shares of Wix.com in a research report on Wednesday, May 15th. Royal Bank of Canada raised their target price on Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a report on Thursday, February 22nd. Raymond James began coverage on Wix.com in a report on Wednesday, March 27th. They set an outperform rating and a $160.00 price target for the company. Needham & Company LLC restated a buy rating and issued a $160.00 price objective on shares of Wix.com in a research note on Monday. Finally, Jefferies Financial Group boosted their target price on shares of Wix.com from $150.00 to $160.00 and gave the stock a buy rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Wix.com presently has an average rating of Moderate Buy and an average target price of $170.81.
Read Our Latest Report on Wix.com
Wix.com Stock Down 1.2 %
Wix.com (NASDAQ:WIX – Get Free Report) last posted its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.24. The business had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.42) EPS. Sell-side analysts anticipate that Wix.com will post 1.16 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighMark Wealth Management LLC bought a new stake in shares of Wix.com in the 4th quarter valued at approximately $26,000. Northwest Bank & Trust Co bought a new stake in Wix.com in the fourth quarter valued at $26,000. Fidelis Capital Partners LLC acquired a new position in Wix.com during the first quarter worth $37,000. Headlands Technologies LLC acquired a new position in Wix.com during the third quarter worth $45,000. Finally, Principal Securities Inc. bought a new position in shares of Wix.com during the fourth quarter valued at $93,000. Institutional investors 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.
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