Wix.com (NASDAQ:WIX) PT Lowered to $143.00 at Morgan Stanley

Wix.com (NASDAQ:WIX) had its price target decreased by Morgan Stanley from $157.00 to $143.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the information services provider’s stock.

Other equities analysts also recently issued research reports about the stock. UBS Group increased their price target on shares of Wix.com from $155.00 to $160.00 and gave the company a buy rating in a report on Thursday, February 22nd. StockNews.com upgraded shares of Wix.com from a hold rating to a buy rating in a report on Saturday, April 13th. Needham & Company LLC reiterated a buy rating and issued a $150.00 price target on shares of Wix.com in a report on Wednesday, February 21st. Royal Bank of Canada increased their price target on shares of Wix.com from $135.00 to $160.00 and gave the company an outperform rating in a report on Thursday, February 22nd. Finally, Benchmark increased their price target on shares of Wix.com from $132.00 to $175.00 and gave the company a buy rating in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $144.29.

Wix.com Stock Performance

WIX stock opened at $121.41 on Wednesday. Wix.com has a one year low of $73.39 and a one year high of $146.21. The stock has a market capitalization of $6.76 billion, a PE ratio of 221.02, a price-to-earnings-growth ratio of 4.22 and a beta of 1.33. The company has a fifty day moving average of $134.68 and a 200-day moving average of $115.78.

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

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Wix.com by 2.9% during the 1st quarter. BlackRock Inc. now owns 3,800,140 shares of the information services provider’s stock worth $379,254,000 after purchasing an additional 106,217 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Wix.com by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after purchasing an additional 117,146 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Wix.com by 5.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock worth $140,710,000 after purchasing an additional 57,090 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Wix.com by 139.8% during the 4th quarter. Millennium Management LLC now owns 895,821 shares of the information services provider’s stock worth $68,826,000 after purchasing an additional 522,264 shares during the last quarter. Finally, Senvest Management LLC boosted its stake in shares of Wix.com by 27.4% during the 4th quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock worth $94,995,000 after purchasing an additional 166,254 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.