Cantor Fitzgerald Reaffirms Overweight Rating for Wix.com (NASDAQ:WIX)

Cantor Fitzgerald restated their overweight rating on shares of Wix.com (NASDAQ:WIX) in a report released on Monday, Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock.

WIX has been the topic of a number of other research reports. StockNews.com upgraded Wix.com from a hold rating to a buy rating in a report on Thursday, August 15th. Barclays lifted their price objective on Wix.com from $184.00 to $186.00 and gave the stock an overweight rating in a research report on Thursday, August 8th. Benchmark upped their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a buy rating in a report on Thursday, August 8th. JMP Securities reaffirmed a market outperform rating and set a $180.00 price target on shares of Wix.com in a research note on Thursday, July 25th. Finally, UBS Group boosted their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a buy rating in a research report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $190.06.

Wix.com Stock Performance

Wix.com stock opened at $160.09 on Monday. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 140.43, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47. Wix.com has a fifty-two week low of $76.90 and a fifty-two week high of $178.65. The stock’s fifty day moving average is $160.62 and its two-hundred day moving average is $151.67.

Wix.com (NASDAQ:WIX) last announced 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. The company had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 earnings per share. As a group, sell-side analysts forecast that Wix.com will post 2.1 EPS for the current fiscal year.

Institutional Trading of Wix.com

Institutional investors and hedge funds have recently bought and sold shares of the business. Dorsal Capital Management LP grew its stake in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after buying an additional 250,000 shares during the period. Wellington Management Group LLP boosted its position in 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 period. Clearbridge Investments LLC increased its holdings in Wix.com by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after purchasing an additional 33,338 shares in the last quarter. Renaissance Technologies LLC raised its position in Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after purchasing an additional 171,500 shares during the period. Finally, Eminence Capital LP lifted its stake in shares of Wix.com by 7.3% during the second quarter. Eminence Capital LP now owns 244,424 shares of the information services provider’s stock worth $38,881,000 after purchasing an additional 16,529 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.