Stock analysts at Raymond James assumed coverage on shares of Wix.com (NASDAQ:WIX – Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm set an “outperform” rating and a $160.00 price target on the information services provider’s stock. Raymond James’ target price would suggest a potential upside of 16.38% from the company’s previous close.
Several other equities analysts have also commented on WIX. Barclays upped their price target on shares of Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Wix.com in a report on Wednesday, February 21st. JMP Securities upped their price target on shares of Wix.com from $130.00 to $150.00 and gave the company a “market outperform” rating in a report on Wednesday, January 24th. B. Riley upped their price target on shares of Wix.com from $120.00 to $141.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada upped their price target on shares of Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $139.53.
View Our Latest Report on Wix.com
Wix.com Stock Up 0.7 %
Wix.com (NASDAQ:WIX – Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. During the same period 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. Equities research analysts expect that Wix.com will post 1.16 EPS for the current fiscal year.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. HighMark Wealth Management LLC acquired a new stake in shares of Wix.com in the 4th quarter valued at approximately $26,000. Northwest Bank & Trust Co acquired a new stake in shares of Wix.com in the 4th quarter valued at approximately $26,000. Quarry LP bought a new stake in Wix.com during the 2nd quarter worth approximately $29,000. UniSuper Management Pty Ltd bought a new stake in Wix.com during the 2nd quarter worth approximately $31,000. Finally, BluePath Capital Management LLC bought a new stake in Wix.com during the 3rd quarter worth approximately $37,000. Institutional investors and hedge funds 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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