Benchmark Boosts Wix.com (NASDAQ:WIX) Price Target to $210.00

Wix.com (NASDAQ:WIX) had its price target hoisted by Benchmark from $175.00 to $210.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

WIX has been the subject of a number of other research reports. JMP Securities upped their price objective on shares of Wix.com from $150.00 to $180.00 and gave the stock a market outperform rating in a research report on Tuesday. Royal Bank of Canada increased their price target on Wix.com from $135.00 to $160.00 and gave the stock an outperform rating in a research report on Thursday, February 22nd. 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. Oppenheimer increased their target price on Wix.com from $160.00 to $200.00 and gave the company an outperform rating in a research report on Tuesday. Finally, Raymond James began coverage on shares of Wix.com in a research report on Wednesday, March 27th. They set an outperform rating and a $160.00 price objective for the company. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $170.81.

Wix.com Stock Performance

NASDAQ WIX opened at $165.21 on Tuesday. Wix.com has a fifty-two week low of $73.39 and a fifty-two week high of $174.09. The firm has a market capitalization of $9.19 billion, a P/E ratio of 144.92, a PEG ratio of 6.70 and a beta of 1.34. The stock has a 50-day simple moving average of $132.13 and a two-hundred day simple moving average of $123.59.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. During the same period in the previous year, the firm earned ($0.42) EPS. The business’s quarterly revenue was up 13.7% on a year-over-year basis. As a group, analysts forecast that Wix.com will post 1.16 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

A number of institutional investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale increased its stake in shares of Wix.com by 5.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after acquiring an additional 129 shares during the last quarter. HighMark Wealth Management LLC purchased a new stake in shares of Wix.com in the fourth quarter valued at about $26,000. Natixis Advisors L.P. increased its position in Wix.com by 2.0% during the fourth quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock worth $1,350,000 after purchasing an additional 214 shares during the last quarter. Northwest Bank & Trust Co purchased a new position in Wix.com during the fourth quarter worth about $26,000. Finally, Fidelis Capital Partners LLC acquired a new position in Wix.com in the 1st quarter valued at about $37,000. Hedge funds and other institutional investors 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.