UBS Group Boosts Wix.com (NASDAQ:WIX) Price Target to $200.00

Wix.com (NASDAQ:WIX) had its target price upped by UBS Group from $160.00 to $200.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

Several other equities analysts have also commented on the stock. Morgan Stanley lowered their price objective on shares of Wix.com from $157.00 to $143.00 and set an equal weight rating for the company in a research report on Wednesday, April 17th. JMP Securities upped their price objective on Wix.com from $150.00 to $180.00 and gave the company a market outperform rating in a research report on Tuesday. Royal Bank of Canada raised their price objective on Wix.com from $160.00 to $190.00 and gave the stock an outperform rating in a report on Tuesday. Piper Sandler downgraded Wix.com from an overweight rating to a neutral rating and upped their target price for the company from $165.00 to $184.00 in a research report on Tuesday. Finally, Raymond James started coverage on Wix.com in a research report on Wednesday, March 27th. They set an outperform rating and a $160.00 target price on the stock. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $170.81.

Wix.com Trading Down 1.2 %

NASDAQ WIX opened at $165.21 on Tuesday. Wix.com has a 12 month low of $73.39 and a 12 month high of $174.09. The stock has a market cap of $9.19 billion, a PE ratio of 144.92, a P/E/G ratio of 6.70 and a beta of 1.34. The stock’s 50 day moving average is $132.13 and its 200 day moving average is $123.59.

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

Institutional Trading of Wix.com

Several hedge funds and other institutional investors have recently bought and sold shares of WIX. HighMark Wealth Management LLC purchased a new stake in Wix.com during the fourth quarter valued at about $26,000. Northwest Bank & Trust Co acquired a new position in Wix.com in the 4th quarter worth $26,000. Fidelis Capital Partners LLC purchased a new position in Wix.com in the 1st quarter valued at about $37,000. Headlands Technologies LLC acquired a new stake in shares of Wix.com during the third quarter valued at about $45,000. Finally, Principal Securities Inc. purchased a new stake in shares of Wix.com during the fourth quarter worth about $93,000. 81.52% of the stock is owned by hedge funds and other 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.