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

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a report issued on Saturday morning.

A number of other brokerages also recently weighed in on WIX. Royal Bank of Canada boosted their target price on Wix.com from $135.00 to $160.00 and gave the stock an outperform rating in a research note on Thursday, February 22nd. UBS Group lifted their price target on shares of Wix.com from $155.00 to $160.00 and gave the stock a buy rating in a report on Thursday, February 22nd. JMP Securities lifted their price target on shares of Wix.com from $130.00 to $150.00 and gave the stock a market outperform rating in a report on Wednesday, January 24th. Barclays lifted their price target on shares of Wix.com from $147.00 to $160.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Finally, B. Riley lifted their price target on shares of Wix.com from $120.00 to $141.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Wix.com currently has an average rating of Moderate Buy and a consensus price target of $142.00.

Wix.com Stock Down 0.2 %

Shares of NASDAQ WIX opened at $123.71 on Friday. Wix.com has a twelve month low of $73.39 and a twelve month high of $146.21. The stock’s 50 day moving average price is $135.18 and its 200-day moving average price is $115.46. The company has a market capitalization of $6.88 billion, a PE ratio of 224.93, a PEG ratio of 4.38 and a beta of 1.33.

Wix.com (NASDAQ:WIX) last announced its earnings results 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. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The firm had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same quarter in the previous year, the business earned ($0.42) EPS. The company’s revenue was up 13.7% compared to the same quarter last year. As a group, research analysts expect that Wix.com will post 1.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Wix.com by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 20,949 shares of the information services provider’s stock worth $2,577,000 after acquiring an additional 100 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Wix.com by 5.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after acquiring an additional 129 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in Wix.com by 21.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 763 shares of the information services provider’s stock worth $56,000 after acquiring an additional 136 shares in the last quarter. First Republic Investment Management Inc. grew its position in Wix.com by 2.7% in the second quarter. First Republic Investment Management Inc. now owns 6,310 shares of the information services provider’s stock worth $414,000 after acquiring an additional 167 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its position in Wix.com by 1.0% in the fourth quarter. Public Sector Pension Investment Board now owns 19,402 shares of the information services provider’s stock worth $2,387,000 after acquiring an additional 200 shares in the last quarter. 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.