Cantor Fitzgerald Reiterates “Overweight” Rating for Wix.com (NASDAQ:WIX)

Wix.com (NASDAQ:WIX)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $200.00 target price on the information services provider’s stock. Cantor Fitzgerald’s target price points to a potential upside of 22.50% from the company’s previous close.

WIX has been the topic of several other reports. Bank of America lifted their target price on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. KeyCorp initiated coverage on Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating for the company. UBS Group lifted their target price on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com has a consensus rating of “Moderate Buy” and an average target price of $190.19.

Wix.com Stock Up 1.6 %

Shares of NASDAQ WIX traded up $2.62 during midday trading on Monday, reaching $163.26. 57,591 shares of the company were exchanged, compared to its average volume of 572,426. The stock’s 50-day moving average price is $160.48 and its 200-day moving average price is $150.37. The stock has a market cap of $9.33 billion, a P/E ratio of 143.21, a PEG ratio of 3.47 and a beta of 1.47. Wix.com has a one year low of $76.90 and a one year high of $178.65.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share 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 business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. During the same quarter in the previous year, the company posted $0.58 EPS. Wix.com’s quarterly revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts anticipate that Wix.com will post 2.01 EPS for the current year.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Northwest Bank & Trust Co purchased a new position in Wix.com during the fourth quarter worth about $26,000. Fidelis Capital Partners LLC bought a new stake in Wix.com during the first quarter valued at approximately $37,000. Industrial Alliance Investment Management Inc. grew its stake in Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares in the last quarter. Toronto Dominion Bank grew its stake in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares in the last quarter. Finally, Optimist Retirement Group LLC bought a new position in shares of Wix.com in the 4th quarter worth $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.