Wix.com (NASDAQ:WIX) Price Target Cut to $143.00

Wix.com (NASDAQ:WIX) had its price objective reduced by equities research analysts at Morgan Stanley from $157.00 to $143.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the information services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 16.62% from the company’s current price.

Other research analysts also recently issued research reports about the stock. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler upped their price target on shares of Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Barclays upped their price target on shares of Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. B. Riley upped their price target on shares of Wix.com from $120.00 to $141.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada upped 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. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $144.29.

Wix.com Stock Performance

NASDAQ WIX traded down $1.09 on Wednesday, reaching $122.62. 292,543 shares of the company’s stock traded hands, compared to its average volume of 557,683. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 224.80, a P/E/G ratio of 4.27 and a beta of 1.33. The stock has a 50 day moving average price of $135.18 and a 200-day moving average price of $115.46. Wix.com has a fifty-two week low of $73.39 and a fifty-two week high of $146.21.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. The business had revenue of $403.80 million during the quarter, compared to the consensus estimate of $416.87 million. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. As a group, equities research analysts anticipate that Wix.com will post 1.16 EPS for the current fiscal year.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in WIX. HighMark Wealth Management LLC purchased a new position in shares of Wix.com during the 4th quarter worth approximately $26,000. Northwest Bank & Trust Co purchased a new position in shares of Wix.com during the 4th quarter worth approximately $26,000. Quarry LP purchased a new position in shares of Wix.com during the 2nd quarter worth approximately $29,000. UniSuper Management Pty Ltd purchased a new position in Wix.com in the 2nd quarter valued at approximately $31,000. Finally, BluePath Capital Management LLC purchased a new position in Wix.com in the 3rd quarter valued at approximately $37,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.