Morgan Stanley Trims Wix.com (NASDAQ:WIX) Target Price to $143.00

Wix.com (NASDAQ:WIX) had its target price decreased by Morgan Stanley from $157.00 to $143.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the information services provider’s stock.

WIX has been the subject of a number of other reports. Benchmark lifted their price target on shares of Wix.com from $132.00 to $175.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Piper Sandler raised their price objective on shares of Wix.com from $146.00 to $165.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Needham & Company LLC restated a buy rating and set a $150.00 price objective on shares of Wix.com in a research note on Wednesday, February 21st. JMP Securities raised their price objective on shares of Wix.com from $130.00 to $150.00 and gave the company a market outperform rating in a research note on Wednesday, January 24th. Finally, B. Riley raised their price objective on shares of Wix.com from $120.00 to $141.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $144.29.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $121.41 on Wednesday. Wix.com has a 1 year low of $73.39 and a 1 year high of $146.21. The stock has a market cap of $6.76 billion, a P/E ratio of 221.02, a price-to-earnings-growth ratio of 4.22 and a beta of 1.33. The firm has a 50-day moving average of $134.68 and a 200 day moving average of $115.78.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The company had revenue of $403.80 million during the quarter, compared to analysts’ expectations of $416.87 million. During the same period last year, the company posted ($0.42) EPS. Wix.com’s revenue was up 13.7% on a year-over-year basis. Research analysts expect that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

Several large investors have recently added to or reduced their stakes in WIX. First Trust Advisors LP grew its position in Wix.com by 22,397.5% during the first quarter. First Trust Advisors LP now owns 690,449 shares of the information services provider’s stock valued at $72,124,000 after buying an additional 687,380 shares during the period. Millennium Management LLC lifted its holdings in Wix.com by 139.8% during the fourth quarter. Millennium Management LLC now owns 895,821 shares of the information services provider’s stock valued at $68,826,000 after purchasing an additional 522,264 shares in the last quarter. Senvest Management LLC lifted its holdings in Wix.com by 194.2% during the third quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock valued at $55,625,000 after purchasing an additional 399,944 shares in the last quarter. Norges Bank purchased a new position in Wix.com during the fourth quarter valued at approximately $27,591,000. Finally, No Street GP LP purchased a new position in shares of Wix.com in the fourth quarter worth $41,212,000. 81.52% of the stock is currently owned by institutional investors.

About Wix.com

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.