Wix.com’s (WIX) “Neutral” Rating Reaffirmed at Piper Sandler

Piper Sandler restated their neutral rating on shares of Wix.com (NASDAQ:WIX) in a research report sent to investors on Thursday, Benzinga reports. Piper Sandler currently has a $184.00 price objective on the information services provider’s stock.

Several other research firms also recently commented on WIX. JMP Securities reissued a market outperform rating and set a $180.00 target price on shares of Wix.com in a research report on Thursday, July 25th. Evercore ISI upgraded Wix.com to a strong-buy rating in a report on Monday. Needham & Company LLC restated a buy rating and set a $190.00 price objective on shares of Wix.com in a research note on Wednesday. Morgan Stanley lifted their price objective on shares of Wix.com from $143.00 to $187.00 and gave the stock an equal weight rating in a report on Tuesday, May 21st. Finally, UBS Group raised their price target on shares of Wix.com from $200.00 to $205.00 and gave the company a buy rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $183.56.

Wix.com Trading Down 0.8 %

NASDAQ WIX traded down $1.27 on Thursday, hitting $162.45. 329,457 shares of the company were exchanged, compared to its average volume of 612,127. Wix.com has a 12 month low of $76.90 and a 12 month high of $178.65. The company has a market cap of $8.91 billion, a PE ratio of 142.10, a PEG ratio of 3.71 and a beta of 1.47. The stock has a fifty day moving average of $160.78 and a 200-day moving average of $143.67.

Wix.com (NASDAQ:WIX) last issued its earnings results on Monday, May 20th. The information services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.15 by $0.18. The company had revenue of $419.78 million during the quarter, compared to the consensus estimate of $417.71 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. On average, analysts expect that Wix.com will post 1.91 earnings per share for the current year.

Institutional Investors Weigh In On Wix.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Wix.com in the fourth quarter worth about $34,554,000. Renaissance Technologies LLC grew its stake in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after buying an additional 171,500 shares in the last quarter. Capital Fund Management S.A. raised its holdings in Wix.com by 1,378.7% during the 4th quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock valued at $19,739,000 after acquiring an additional 149,605 shares during the period. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Wix.com by 328.5% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock worth $22,144,000 after acquiring an additional 137,991 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Wix.com by 10.7% in 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 acquiring an additional 117,146 shares during the period. 81.52% of the stock is currently owned by institutional investors.

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.