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

JMP Securities reissued their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a research report released on Tuesday morning, Benzinga reports. The firm currently has a $150.00 target price on the information services provider’s stock.

WIX has been the topic of several other research reports. StockNews.com raised shares of Wix.com from a hold rating to a buy rating in a research report on Saturday, April 13th. Raymond James started coverage on shares of Wix.com in a research report on Wednesday, March 27th. They issued an outperform rating and a $160.00 price objective on the stock. Needham & Company LLC reaffirmed a buy rating and set a $150.00 target price on shares of Wix.com in a report on Wednesday, February 21st. Royal Bank of Canada raised their price objective on shares of Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a research report on Thursday, February 22nd. Finally, B. Riley boosted their price target on shares of Wix.com from $120.00 to $141.00 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 stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $144.29.

Wix.com Trading Up 0.3 %

Wix.com stock opened at $119.83 on Tuesday. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21. The firm’s fifty day moving average price is $132.69 and its two-hundred day moving average price is $118.35. The firm has a market capitalization of $6.67 billion, a price-to-earnings ratio of 217.87, a price-to-earnings-growth ratio of 4.09 and a beta of 1.34.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. The business had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.42) EPS. On average, research analysts forecast that Wix.com will post 1.16 EPS for the current year.

Institutional Trading of Wix.com

Hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC bought a new position in Wix.com during the third quarter valued at approximately $311,000. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new stake in shares of Wix.com during the 3rd quarter valued at about $1,331,000. Cambridge Investment Research Advisors Inc. purchased a new position in Wix.com in the third quarter worth about $799,000. BluePath Capital Management LLC purchased a new stake in Wix.com during the 3rd quarter valued at $37,000. Finally, Mackenzie Financial Corp grew its holdings in Wix.com by 543.6% during the 3rd quarter. Mackenzie Financial Corp now owns 62,004 shares of the information services provider’s stock valued at $5,425,000 after purchasing an additional 52,370 shares during the last quarter. 81.52% of the stock is 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.