JMP Securities Increases Wix.com (NASDAQ:WIX) Price Target to $180.00

Wix.com (NASDAQ:WIX) had its price target hoisted by stock analysts at JMP Securities from $150.00 to $180.00 in a report released on Tuesday, Benzinga reports. The firm presently has a “market outperform” rating on the information services provider’s stock. JMP Securities’ price objective would indicate a potential upside of 7.66% from the company’s previous close.

Several other analysts have also recently issued reports on WIX. Royal Bank of Canada increased their price target on shares of Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. UBS Group raised their price target on shares of Wix.com from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Benchmark reiterated a “buy” rating and issued a $175.00 price objective on shares of Wix.com in a research note on Wednesday, May 15th. Oppenheimer boosted their target price on Wix.com from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Barclays increased their price target on Wix.com from $147.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.81.

Wix.com Stock Down 3.4 %

WIX opened at $167.19 on Tuesday. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 146.66, a PEG ratio of 3.84 and a beta of 1.34. Wix.com has a 52-week low of $73.39 and a 52-week high of $174.09. The firm’s fifty day simple moving average is $132.13 and its two-hundred day simple moving average is $123.59.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.24. The firm had revenue of $403.80 million for 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 71.38%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period last year, the firm posted ($0.42) earnings per share. On average, research analysts forecast that Wix.com will post 1.75 EPS for the current year.

Institutional Investors Weigh In On Wix.com

Several large investors have recently modified their holdings of the company. Commonwealth Equity Services LLC purchased a new stake in shares of Wix.com in the third quarter valued at about $311,000. Teacher Retirement System of Texas raised its holdings in shares of Wix.com by 495.4% in the third quarter. Teacher Retirement System of Texas now owns 16,446 shares of the information services provider’s stock valued at $1,510,000 after buying an additional 13,684 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Wix.com by 1.8% in the third quarter. California Public Employees Retirement System now owns 97,481 shares of the information services provider’s stock valued at $8,949,000 after buying an additional 1,730 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Wix.com by 26.6% in the third quarter. Nomura Asset Management Co. Ltd. now owns 16,190 shares of the information services provider’s stock valued at $1,486,000 after buying an additional 3,400 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Wix.com by 239.7% during the third quarter. Assenagon Asset Management S.A. now owns 13,982 shares of the information services provider’s stock worth $1,284,000 after purchasing an additional 9,866 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.