Wix.com’s (WIX) Overweight Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Wix.com (NASDAQ:WIX) in a report issued on Monday morning, Benzinga reports. The brokerage currently has a $200.00 price target on the information services provider’s stock.

A number of other brokerages have also recently issued reports on WIX. StockNews.com upgraded Wix.com from a hold rating to a buy rating in a report on Thursday, August 15th. Piper Sandler upgraded Wix.com from a neutral rating to an overweight rating and boosted their price objective for the stock from $184.00 to $200.00 in a report on Monday. Evercore ISI raised shares of Wix.com to a strong-buy rating in a research report on Monday, August 5th. Barclays upped their price target on shares of Wix.com from $184.00 to $186.00 and gave the company an overweight rating in a research report on Thursday, August 8th. Finally, Bank of America boosted their target price on shares of Wix.com from $153.00 to $183.00 and gave the company a buy rating in a research note on Thursday, June 6th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $190.19.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $171.74 on Monday. The stock has a market cap of $9.82 billion, a price-to-earnings ratio of 150.65, a PEG ratio of 3.50 and a beta of 1.47. Wix.com has a 12 month low of $76.90 and a 12 month high of $178.65. The stock’s 50 day moving average price is $160.72 and its 200 day moving average price is $150.98.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. During the same period in the previous year, the company earned $0.58 earnings per share. Wix.com’s revenue was up 11.7% compared to the same quarter last year. On average, sell-side analysts expect that Wix.com will post 2.1 EPS for the current year.

Institutional Investors Weigh In On Wix.com

Large investors have recently bought and sold shares of the business. Northwest Bank & Trust Co bought a new position in shares of Wix.com in the fourth quarter valued at approximately $26,000. Fidelis Capital Partners LLC acquired a new position in Wix.com during the 1st quarter worth $37,000. Industrial Alliance Investment Management Inc. boosted its holdings in Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after acquiring an additional 488 shares during the period. Toronto Dominion Bank increased its stake in shares of Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares during the period. Finally, Optimist Retirement Group LLC acquired a new position in shares of Wix.com during the 4th quarter worth about $201,000. 81.52% of the stock is currently owned by institutional investors.

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.