Cantor Fitzgerald Initiates Coverage on Wix.com (NASDAQ:WIX)

Analysts at Cantor Fitzgerald initiated coverage on shares of Wix.com (NASDAQ:WIX) in a report issued on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $200.00 price target on the information services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 28.14% from the company’s previous close.

WIX has been the subject of a number of other research reports. UBS Group increased their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Morgan Stanley increased their price objective on shares of Wix.com from $143.00 to $187.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 21st. Barclays raised 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. StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $189.19.

Wix.com Stock Down 2.2 %

Wix.com stock opened at $156.08 on Thursday. The business has a fifty day moving average of $160.85 and a two-hundred day moving average of $148.54. The firm has a market cap of $8.56 billion, a P/E ratio of 137.97, a P/E/G ratio of 3.51 and a beta of 1.47. Wix.com has a twelve month low of $76.90 and a twelve month high of $178.65.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. 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. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. Equities analysts expect that Wix.com will post 2.01 earnings per share for the current year.

Institutional Investors Weigh In On Wix.com

Several institutional investors and hedge funds have recently made changes to their positions in the company. Dorsal Capital Management LP raised its holdings in shares of Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after buying an additional 250,000 shares during the last quarter. Wellington Management Group LLP lifted 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 valued at $148,942,000 after purchasing an additional 117,146 shares during the period. Clearbridge Investments LLC raised its position in shares of 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 acquiring an additional 33,338 shares during the period. Renaissance Technologies LLC raised its position in shares of Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after acquiring an additional 171,500 shares during the period. Finally, Norges Bank acquired a new stake in shares of Wix.com in the 4th quarter valued at approximately $34,554,000. 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.