Wix.com (NASDAQ:WIX) PT Raised to $210.00 at Benchmark

Wix.com (NASDAQ:WIX) had its price objective upped by Benchmark from $175.00 to $210.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the information services provider’s stock. Benchmark’s target price would suggest a potential upside of 25.61% from the stock’s current price.

A number of other equities analysts have also issued reports on WIX. JMP Securities increased their price objective on Wix.com from $150.00 to $180.00 and gave the stock a “market outperform” rating in a report on Tuesday. Piper Sandler lowered Wix.com from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $165.00 to $184.00 in a report on Tuesday. Oppenheimer increased their price objective on Wix.com from $160.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley decreased their price objective on Wix.com from $157.00 to $143.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Finally, UBS Group increased their price objective on Wix.com from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.81.

Wix.com Trading Down 3.4 %

NASDAQ:WIX opened at $167.19 on Tuesday. The firm has a market capitalization of $9.30 billion, a PE ratio of 146.66, a price-to-earnings-growth ratio of 3.84 and a beta of 1.34. The stock has a 50 day moving average of $132.13 and a 200-day moving average of $123.59. Wix.com has a 52 week low of $73.39 and a 52 week high of $174.09.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $0.98 by $0.24. Wix.com had a negative return on equity of 71.38% and a net margin of 4.20%. The company had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. During the same period in the prior year, the company earned ($0.42) earnings per share. The business’s revenue was up 13.7% compared to the same quarter last year. As a group, analysts predict that Wix.com will post 1.75 EPS for the current fiscal year.

Institutional Investors Weigh In On Wix.com

A number of institutional investors and hedge funds have recently modified their holdings of WIX. Swedbank AB acquired a new stake in Wix.com during the 1st quarter valued at $2,319,000. iA Global Asset Management Inc. raised its stake 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 purchasing an additional 10,427 shares during the period. Tidal Investments LLC acquired a new stake in Wix.com during the 1st quarter valued at $5,197,000. California State Teachers Retirement System raised its stake in Wix.com by 9.8% during the 1st 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 during the period. Finally, Grandeur Peak Global Advisors LLC raised 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 valued at $526,000 after purchasing an additional 2,377 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.