Wix.com (NASDAQ:WIX) Price Target Lowered to $160.00 at Barclays

Wix.com (NASDAQ:WIXGet Free Report) had its price target dropped by analysts at Barclays from $205.00 to $160.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the information services provider’s stock. Barclays‘s price target suggests a potential upside of 75.52% from the stock’s current price.

Several other brokerages have also weighed in on WIX. Morgan Stanley decreased their price objective on shares of Wix.com from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Raymond James Financial reiterated a “strong-buy” rating and issued a $100.00 price target on shares of Wix.com in a research note on Wednesday. Cantor Fitzgerald upped their price objective on Wix.com from $135.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, December 11th. Wells Fargo & Company decreased their target price on Wix.com from $184.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Finally, Royal Bank Of Canada dropped their price target on Wix.com from $155.00 to $112.00 and set an “outperform” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.45.

Check Out Our Latest Report on Wix.com

Wix.com Stock Performance

Shares of NASDAQ WIX traded up $7.38 during midday trading on Thursday, reaching $91.16. 2,144,581 shares of the company’s stock were exchanged, compared to its average volume of 2,341,057. Wix.com has a 52-week low of $60.22 and a 52-week high of $195.15. The business’s fifty day moving average price is $83.51 and its two-hundred day moving average price is $116.16. The stock has a market capitalization of $5.11 billion, a PE ratio of 39.00, a price-to-earnings-growth ratio of 2.31 and a beta of 1.39.

Wix.com (NASDAQ:WIXGet Free Report) last announced its earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.45. Wix.com had a negative return on equity of 102.59% and a net margin of 7.20%.The company had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. During the same period in the prior year, the company posted $2.10 EPS. Wix.com’s quarterly revenue was up 13.9% on a year-over-year basis. Analysts predict that Wix.com will post 3.65 earnings per share for the current fiscal year.

Wix.com announced that its board has approved a stock repurchase plan on Wednesday, January 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information services provider to repurchase up to 40.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WIX. Farther Finance Advisors LLC lifted its holdings in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after purchasing an additional 132 shares during the period. Westside Investment Management Inc. lifted its stake in shares of Wix.com by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after acquiring an additional 77 shares during the period. Flagship Harbor Advisors LLC bought a new position in shares of Wix.com in the fourth quarter valued at approximately $27,000. Geneos Wealth Management Inc. increased its stake in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 215 shares during the period. Finally, Employees Retirement System of Texas raised its holdings in Wix.com by 129.9% during the fourth quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after purchasing an additional 252 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com News Summary

Here are the key news stories impacting Wix.com this week:

About Wix.com

(Get Free Report)

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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