Wix.com (NASDAQ:WIX) Rating Lowered to Neutral at Piper Sandler

Wix.com (NASDAQ:WIX) was downgraded by research analysts at Piper Sandler from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat reports. They currently have a $184.00 target price on the information services provider’s stock, up from their previous target price of $165.00. Piper Sandler’s price target indicates a potential upside of 10.05% from the company’s previous close.

A number of other equities analysts have also recently issued reports on WIX. StockNews.com cut Wix.com from a “buy” rating to a “hold” rating in a report on Friday, May 17th. UBS Group increased their price target on Wix.com from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Jefferies Financial Group increased their price target on Wix.com from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $160.00 price target on shares of Wix.com in a research report on Monday. Finally, Barclays increased their price target on Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, 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. Wix.com has a 1-year low of $73.39 and a 1-year high of $174.09. The stock’s 50 day moving average is $132.13 and its two-hundred day moving average is $123.59. The company has a market capitalization 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 (NASDAQ:WIX) last issued its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $403.80 million during the quarter, compared to analysts’ expectations of $416.87 million. During the same period in the prior year, the firm posted ($0.42) EPS. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts predict that Wix.com will post 1.75 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

Several hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its holdings in Wix.com by 5.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after purchasing an additional 129 shares during the period. HighMark Wealth Management LLC bought a new position in Wix.com during the fourth quarter worth about $26,000. Natixis Advisors L.P. grew its holdings in Wix.com by 2.0% during the fourth quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock worth $1,350,000 after purchasing an additional 214 shares during the period. Northwest Bank & Trust Co bought a new position in Wix.com during the fourth quarter worth about $26,000. Finally, Fidelis Capital Partners LLC bought a new position in Wix.com during the first quarter worth about $37,000. Institutional investors 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.