Wix.com’s (WIX) “Buy” Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Wix.com (NASDAQ:WIX) in a research note published on Wednesday morning, Benzinga reports. They currently have a $175.00 price objective on the information services provider’s stock.

A number of other research firms have also issued reports on WIX. StockNews.com raised shares of Wix.com from a hold rating to a buy rating in a report on Saturday, April 13th. JMP Securities restated a market outperform rating and issued a $150.00 price target on shares of Wix.com in a research report on Tuesday, April 30th. B. Riley lifted their price objective on Wix.com from $120.00 to $141.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Royal Bank of Canada raised their target price on Wix.com from $135.00 to $160.00 and gave the stock an outperform rating in a research note on Thursday, February 22nd. Finally, Piper Sandler boosted their price target on shares of Wix.com from $146.00 to $165.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $144.29.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $135.68 on Wednesday. The firm has a market cap of $7.55 billion, a PE ratio of 246.69, a PEG ratio of 4.73 and a beta of 1.34. Wix.com has a one year low of $73.39 and a one year high of $146.21. The firm has a fifty day moving average of $130.42 and a 200 day moving average of $121.48.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating 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 firm had revenue of $403.80 million for the quarter, compared to analyst estimates of $416.87 million. During the same period last year, the company posted ($0.42) EPS. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, equities analysts predict that Wix.com will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in WIX. iA Global Asset Management Inc. boosted its holdings in Wix.com by 176.5% during the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after acquiring an additional 10,427 shares during the period. Tidal Investments LLC purchased a new position in shares of Wix.com in the first quarter valued at approximately $5,197,000. California State Teachers Retirement System grew its holdings in shares of Wix.com by 9.8% in the first quarter. California State Teachers Retirement System now owns 56,143 shares of the information services provider’s stock valued at $7,719,000 after purchasing an additional 5,033 shares in the last quarter. Grandeur Peak Global Advisors LLC increased its stake in Wix.com by 163.7% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 3,829 shares of the information services provider’s stock worth $526,000 after buying an additional 2,377 shares during the period. Finally, Industrial Alliance Investment Management Inc. lifted its holdings in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.