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

Wix.com (NASDAQ:WIX)‘s stock had its “overweight” rating restated by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $200.00 price objective on the information services provider’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 20.90% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. KeyCorp started coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating for the company. Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. Benchmark upped their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Bank of America lifted their target price on Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, JMP Securities restated a “market outperform” rating and set a $180.00 price target on shares of Wix.com in a report on Thursday, July 25th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $190.19.

Wix.com Trading Down 1.7 %

NASDAQ WIX traded down $2.87 during trading on Monday, hitting $165.43. 87,611 shares of the company’s stock were exchanged, compared to its average volume of 568,123. The company has a market cap of $9.07 billion, a PE ratio of 145.12, a P/E/G ratio of 3.58 and a beta of 1.47. The stock’s 50 day moving average price is $160.82 and its two-hundred day moving average price is $151.31. Wix.com has a fifty-two week low of $76.90 and a fifty-two week high of $178.65.

Wix.com (NASDAQ:WIX) last posted its earnings results 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. The firm had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 EPS. Analysts forecast that Wix.com will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wix.com

A number of hedge funds have recently modified their holdings of the stock. Dorsal Capital Management LP raised its stake in Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares during the period. Wellington Management Group LLP raised its position in shares of Wix.com by 10.7% in the fourth 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 second 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 during the period. Renaissance Technologies LLC lifted its stake in shares of Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after buying an additional 171,500 shares in the last quarter. Finally, Eminence Capital LP boosted its holdings in Wix.com by 7.3% in the 2nd quarter. Eminence Capital LP now owns 244,424 shares of the information services provider’s stock worth $38,881,000 after buying an additional 16,529 shares during the period. Institutional investors 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.