Wix.com’s (WIX) Market Outperform Rating Reiterated at JMP Securities

Wix.com (NASDAQ:WIX)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They currently have a $150.00 price objective on the information services provider’s stock. JMP Securities’ price objective points to a potential upside of 25.40% from the company’s current price.

A number of other analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Wix.com in a research report on Wednesday, February 21st. Morgan Stanley cut their price target on shares of Wix.com from $157.00 to $143.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 17th. Raymond James assumed coverage on Wix.com in a research report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 target price for the company. Benchmark increased their price target on Wix.com from $132.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Piper Sandler upped their price objective on Wix.com from $146.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. One research 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, Wix.com presently has an average rating of “Moderate Buy” and an average target price of $144.29.

Wix.com Trading Down 1.3 %

WIX stock traded down $1.60 during midday trading on Tuesday, reaching $119.62. 167,144 shares of the company’s stock traded hands, compared to its average volume of 537,721. Wix.com has a 52-week low of $73.39 and a 52-week high of $146.21. The stock’s 50-day moving average is $133.71 and its 200 day moving average is $117.84. The stock has a market cap of $6.66 billion, a P/E ratio of 217.31, a PEG ratio of 4.16 and a beta of 1.33.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. HighMark Wealth Management LLC acquired a new stake in Wix.com in the 4th quarter worth approximately $26,000. Northwest Bank & Trust Co acquired a new stake in Wix.com during the 4th quarter worth about $26,000. BluePath Capital Management LLC purchased a new stake in Wix.com during the 3rd quarter valued at about $37,000. Headlands Technologies LLC acquired a new position in shares of Wix.com in the third quarter valued at about $45,000. Finally, Principal Securities Inc. purchased a new position in shares of Wix.com in the fourth quarter worth about $93,000. Hedge funds and other 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.