Barclays Trims Wix.com (NASDAQ:WIX) Target Price to $184.00

Wix.com (NASDAQ:WIX) had its price target decreased by analysts at Barclays from $186.00 to $184.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. Barclays‘s target price points to a potential upside of 14.35% from the company’s previous close.

Other analysts have also recently issued reports about the company. KeyCorp began coverage on Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Bank of America increased their price objective on Wix.com from $153.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Thursday, August 15th. JMP Securities reiterated a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a research note on Thursday, July 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Monday. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $190.06.

Wix.com Price Performance

Shares of WIX stock traded down $6.26 during trading hours on Tuesday, hitting $160.91. The company had a trading volume of 124,691 shares, compared to its average volume of 566,804. The company’s fifty day moving average is $160.85 and its 200 day moving average is $151.52. Wix.com has a fifty-two week low of $76.90 and a fifty-two week high of $178.65. The stock has a market capitalization of $9.20 billion, a PE ratio of 140.46, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping the consensus estimate 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 prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities analysts forecast that Wix.com will post 2.1 earnings per share for the current year.

Institutional Trading of Wix.com

Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC lifted its holdings in shares of Wix.com by 416.5% in the 1st quarter. SG Americas Securities LLC now owns 80,455 shares of the information services provider’s stock valued at $11,061,000 after purchasing an additional 64,878 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Wix.com by 36.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,406 shares of the information services provider’s stock valued at $4,318,000 after purchasing an additional 8,422 shares during the last quarter. iA Global Asset Management Inc. increased its position in Wix.com by 176.5% in the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after acquiring an additional 10,427 shares during the period. Capital Fund Management S.A. increased its position in Wix.com by 1,378.7% in the 4th quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock valued at $19,739,000 after acquiring an additional 149,605 shares during the period. Finally, G2 Investment Partners Management LLC acquired a new position in Wix.com in the 4th quarter valued at about $7,984,000. 81.52% of the stock is owned by hedge funds and other 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.