B. Riley Boosts Wix.com (NASDAQ:WIX) Price Target to $180.00

Wix.com (NASDAQ:WIX) had its price target boosted by B. Riley from $154.00 to $180.00 in a research note released on Tuesday, Benzinga reports. B. Riley currently has a buy rating on the information services provider’s stock.

WIX has been the topic of a number of other reports. Needham & Company LLC restated a buy rating and issued a $160.00 price target on shares of Wix.com in a research note on Monday, May 20th. Benchmark boosted their price target on Wix.com from $175.00 to $210.00 and gave the company a buy rating in a research report on Tuesday. StockNews.com downgraded Wix.com from a buy rating to a hold rating in a research report on Friday, May 17th. Jefferies Financial Group boosted their price target on Wix.com from $150.00 to $160.00 and gave the stock a buy rating in a research note on Monday, May 20th. Finally, Barclays upped their price objective on Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a research note on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Wix.com has a consensus rating of Moderate Buy and an average target price of $170.81.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $170.00 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 $9.72 billion, a PE ratio of 149.12, a price-to-earnings-growth ratio of 6.48 and a beta of 1.34. The stock’s 50-day simple moving average is $132.67 and its 200-day simple moving average is $123.88.

Wix.com (NASDAQ:WIX) last announced 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 negative return on equity of 59.67% and a net margin of 4.20%. The company had revenue of $403.80 million for the quarter, compared to the consensus estimate of $416.87 million. During the same period last year, the business posted ($0.42) EPS. The company’s revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts forecast that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wix.com

A number of institutional investors and hedge funds have recently modified their holdings of WIX. HighMark Wealth Management LLC purchased a new stake in shares of Wix.com in the fourth quarter valued at $26,000. Northwest Bank & Trust Co acquired a new stake in shares of Wix.com in the fourth quarter worth about $26,000. Fidelis Capital Partners LLC bought a new position in shares of Wix.com in the first quarter worth about $37,000. Headlands Technologies LLC bought a new position in shares of Wix.com in the third quarter worth about $45,000. Finally, Principal Securities Inc. bought a new position in Wix.com during the fourth quarter valued at about $93,000. 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.