Wix.com’s (WIX) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings restated their hold (c) rating on shares of Wix.com (NASDAQ:WIX) in a research report released on Wednesday morning,Weiss Ratings reports.

Other analysts have also recently issued reports about the stock. Cfra Research raised shares of Wix.com from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 12th. Needham & Company LLC decreased their price target on shares of Wix.com from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Piper Sandler increased their price target on shares of Wix.com from $206.00 to $210.00 and gave the company an “overweight” rating in a research note on Friday, September 26th. Scotiabank set a $255.00 price objective on shares of Wix.com and gave the company a “sector outperform” rating in a research note on Thursday, August 7th. Finally, UBS Group reduced their price objective on shares of Wix.com from $230.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $215.37.

Wix.com Trading Down 3.3%

Shares of Wix.com stock opened at $134.15 on Wednesday. The stock has a market capitalization of $7.53 billion, a price-to-earnings ratio of 47.74, a P/E/G ratio of 2.59 and a beta of 1.32. Wix.com has a 1-year low of $114.89 and a 1-year high of $247.11. The firm’s 50-day moving average price is $148.24 and its two-hundred day moving average price is $155.38.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The business had revenue of $489.93 million for the quarter, compared to analysts’ expectations of $487.62 million. During the same period in the prior year, the firm earned $1.67 earnings per share. Wix.com’s revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts predict that Wix.com will post 3.65 EPS for the current year.

Wix.com announced that its board has authorized a stock buyback program on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in Wix.com by 63.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after purchasing an additional 66 shares during the period. Smartleaf Asset Management LLC raised its holdings in Wix.com by 8.9% in the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock worth $161,000 after purchasing an additional 79 shares during the period. Yousif Capital Management LLC raised its holdings in Wix.com by 4.9% in the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider’s stock worth $299,000 after purchasing an additional 85 shares during the period. Signaturefd LLC raised its holdings in Wix.com by 3.3% in the first quarter. Signaturefd LLC now owns 3,402 shares of the information services provider’s stock worth $556,000 after purchasing an additional 109 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Wix.com by 28.4% in the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock worth $81,000 after purchasing an additional 109 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.