JMP Securities Increases Wix.com (NASDAQ:WIX) Price Target to $180.00

Wix.com (NASDAQ:WIX) had its target price increased by JMP Securities from $150.00 to $180.00 in a report issued on Tuesday, Benzinga reports. JMP Securities currently has a market outperform rating on the information services provider’s stock.

Other equities analysts have also issued reports about the company. Benchmark reiterated a buy rating and issued a $175.00 price objective on shares of Wix.com in a research note on Wednesday, May 15th. Jefferies Financial Group boosted their price objective on shares of Wix.com from $150.00 to $160.00 and gave the stock a buy rating in a research report on Monday, May 20th. Needham & Company LLC restated a buy rating and issued a $160.00 price objective on shares of Wix.com in a research report on Monday, May 20th. Oppenheimer upped their target price on shares of Wix.com from $160.00 to $200.00 and gave the stock an outperform rating in a research note on Tuesday. Finally, StockNews.com downgraded shares of Wix.com from a buy rating to a hold rating in a research note on Friday, May 17th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $170.81.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $170.00 on Tuesday. The stock has a fifty day moving average of $132.67 and a 200-day moving average of $123.88. The company has a market capitalization of $9.72 billion, a PE ratio of 149.12, a price-to-earnings-growth ratio of 6.48 and a beta of 1.34. Wix.com has a one year low of $73.39 and a one year high of $174.09.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The business had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same period in the prior year, the business posted ($0.42) earnings per share. Wix.com’s revenue for the quarter was up 13.7% compared to the same quarter last year. As a group, research analysts forecast that Wix.com will post 1.16 EPS for the current fiscal year.

Institutional Trading of Wix.com

Hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP lifted its holdings in shares of Wix.com by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after purchasing an additional 117,146 shares during the period. Clearbridge Investments LLC boosted its stake in Wix.com by 1.8% in the first quarter. Clearbridge Investments LLC now owns 1,164,136 shares of the information services provider’s stock valued at $160,045,000 after acquiring an additional 20,342 shares during the last quarter. Senvest Management LLC boosted its stake in Wix.com by 27.4% in the fourth quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock valued at $94,995,000 after acquiring an additional 166,254 shares during the last quarter. Sei Investments Co. raised its position in shares of Wix.com by 8.2% in the third quarter. Sei Investments Co. now owns 539,018 shares of the information services provider’s stock valued at $49,482,000 after purchasing an additional 40,831 shares during the period. Finally, Shannon River Fund Management LLC bought a new stake in shares of Wix.com in the third quarter valued at approximately $29,590,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.