Citigroup Boosts Wix.com (NASDAQ:WIX) Price Target to $202.00

Wix.com (NASDAQ:WIX) had its price target increased by Citigroup from $175.00 to $202.00 in a research note released on Tuesday, Benzinga reports. They currently have a buy rating on the information services provider’s stock.

A number of other research analysts have also recently weighed in on the stock. Benchmark lifted their target price on shares of Wix.com from $175.00 to $210.00 and gave the company a buy rating in a research note on Tuesday. Needham & Company LLC reiterated a buy rating and set a $160.00 target price on shares of Wix.com in a research report on Monday, May 20th. Jefferies Financial Group lifted their price target on Wix.com from $150.00 to $160.00 and gave the stock a buy rating in a research report on Monday, May 20th. StockNews.com cut shares of Wix.com from a buy rating to a hold rating in a research report on Friday, May 17th. Finally, B. Riley upped their target price on Wix.com from $154.00 to $180.00 and gave the company a buy rating in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $170.81.

Wix.com Stock Performance

NASDAQ WIX opened at $170.00 on Tuesday. Wix.com has a one year low of $73.39 and a one year high of $174.09. The company has a market capitalization of $9.72 billion, a price-to-earnings ratio of 149.12, a PEG ratio of 6.48 and a beta of 1.34. The stock has a 50-day moving average of $132.67 and a 200 day moving average of $123.88.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. The firm 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 4.20% and a negative return on equity of 59.67%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.42) EPS. On average, equities analysts predict that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

Several hedge funds and other institutional investors have recently bought and sold shares of WIX. Wellington Management Group LLP boosted its holdings in shares of Wix.com by 10.7% in the 4th quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock valued at $148,942,000 after buying an additional 117,146 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Wix.com by 1.8% in the first quarter. Clearbridge Investments LLC now owns 1,164,136 shares of the information services provider’s stock worth $160,045,000 after purchasing an additional 20,342 shares during the last quarter. Senvest Management LLC increased its position in shares of Wix.com by 27.4% during the fourth 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 in the last quarter. Sei Investments Co. increased its position in shares of Wix.com by 8.2% during the third quarter. Sei Investments Co. now owns 539,018 shares of the information services provider’s stock worth $49,482,000 after purchasing an additional 40,831 shares in the last quarter. Finally, Shannon River Fund Management LLC purchased a new stake in Wix.com in the third quarter valued at about $29,590,000. 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.