Wix.com (NASDAQ:WIX) Upgraded to “Buy” by StockNews.com

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a research report report published on Thursday.

A number of other analysts also recently issued reports on WIX. JMP Securities reissued a market outperform rating and set a $180.00 price target on shares of Wix.com in a report on Thursday, July 25th. Barclays raised their target price on Wix.com from $184.00 to $186.00 and gave the company an overweight rating in a research report on Thursday, August 8th. Royal Bank of Canada upped their price target on Wix.com from $160.00 to $190.00 and gave the stock an outperform rating in a report on Tuesday, May 21st. Oppenheimer raised their price objective on Wix.com from $160.00 to $200.00 and gave the company an outperform rating in a report on Tuesday, May 21st. Finally, Evercore ISI upgraded Wix.com to a strong-buy rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Wix.com presently has an average rating of Moderate Buy and an average target price of $188.47.

Wix.com Stock Performance

Shares of WIX opened at $163.64 on Thursday. The company has a market capitalization of $8.97 billion, a P/E ratio of 143.55, a P/E/G ratio of 3.53 and a beta of 1.47. The business’s 50-day moving average is $159.89 and its two-hundred day moving average is $145.26. Wix.com has a fifty-two week low of $76.90 and a fifty-two week high of $178.65.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The company had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. During the same period last year, the business earned $0.58 earnings per share. Wix.com’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts forecast that Wix.com will post 2.01 EPS for the current year.

Institutional Trading of Wix.com

A number of hedge funds have recently bought and sold shares of WIX. Northwest Bank & Trust Co acquired a new stake in shares of Wix.com in the 4th quarter worth $26,000. Fidelis Capital Partners LLC acquired a new stake in Wix.com during the first quarter worth about $37,000. Principal Securities Inc. purchased a new position in Wix.com during the fourth quarter worth about $93,000. Industrial Alliance Investment Management Inc. boosted its holdings in Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after purchasing an additional 488 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in shares of Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after buying an additional 124 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.