StockNews.com upgraded shares of Wix.com (NASDAQ:WIX – Free Report) from a hold rating to a buy rating in a report published on Saturday.
Other analysts also recently issued reports about the company. UBS Group increased their price objective on Wix.com from $155.00 to $160.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. B. Riley raised their price target on Wix.com from $120.00 to $141.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. JMP Securities increased their price objective on Wix.com from $130.00 to $150.00 and gave the stock a market outperform rating in a research report on Wednesday, January 24th. Royal Bank of Canada raised their price target on Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Finally, Barclays lifted their price objective on Wix.com from $147.00 to $160.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $142.00.
Check Out Our Latest Research Report on WIX
Wix.com Stock Down 3.2 %
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 for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same period in the prior year, the business earned ($0.42) EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. As a group, equities research analysts expect that Wix.com will post 1.16 EPS for the current fiscal year.
Institutional Investors Weigh In On Wix.com
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its holdings in shares of Wix.com by 2.9% in the first quarter. BlackRock Inc. now owns 3,800,140 shares of the information services provider’s stock worth $379,254,000 after buying an additional 106,217 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Wix.com by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after purchasing an additional 117,146 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Wix.com by 5.3% during the fourth quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock worth $140,710,000 after purchasing an additional 57,090 shares in the last quarter. Millennium Management LLC increased its stake in shares of Wix.com by 139.8% during the fourth quarter. Millennium Management LLC now owns 895,821 shares of the information services provider’s stock worth $68,826,000 after purchasing an additional 522,264 shares in the last quarter. Finally, Senvest Management LLC increased its stake in shares of Wix.com by 27.4% during the fourth quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock worth $94,995,000 after purchasing an additional 166,254 shares in the last quarter. 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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.
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