Barclays Raises Wix.com (NASDAQ:WIX) Price Target to $184.00

Wix.com (NASDAQ:WIX) had its price objective hoisted by Barclays from $160.00 to $184.00 in a research note released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the information services provider’s stock.

WIX has been the topic of a number of other reports. Morgan Stanley boosted their price target on shares of Wix.com from $143.00 to $187.00 and gave the stock an equal weight rating in a research note on Tuesday. StockNews.com cut shares of Wix.com from a buy rating to a hold rating in a research report on Friday, May 17th. Royal Bank of Canada upped their price objective on Wix.com from $160.00 to $190.00 and gave the stock an outperform rating in a research report on Tuesday. JMP Securities lifted their target price on Wix.com from $150.00 to $180.00 and gave the company a market outperform rating in a report on Tuesday. Finally, Needham & Company LLC restated a buy rating and set a $160.00 price target on shares of Wix.com in a report on Monday, May 20th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Wix.com currently has a consensus rating of Moderate Buy and an average target price of $170.81.

Wix.com Price Performance

Shares of WIX stock opened at $170.00 on Tuesday. The firm has a market cap 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 company has a 50-day moving average of $132.67 and a two-hundred day moving average of $123.88. Wix.com has a 1-year low of $73.39 and a 1-year high of $174.09.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. The business had revenue of $403.80 million during the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. The company’s revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.42) earnings per share. Sell-side analysts anticipate that Wix.com will post 1.16 EPS for the current fiscal year.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in WIX. Wellington Management Group LLP grew its stake in Wix.com by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after buying an additional 117,146 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in shares of 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 period. Senvest Management LLC grew its position in shares of Wix.com by 27.4% during the fourth quarter. Senvest Management LLC now owns 772,191 shares of the information services provider’s stock worth $94,995,000 after acquiring an additional 166,254 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Wix.com by 8.2% in the 3rd quarter. Sei Investments Co. now owns 539,018 shares of the information services provider’s stock valued at $49,482,000 after acquiring an additional 40,831 shares during the period. Finally, Shannon River Fund Management LLC acquired a new stake in Wix.com during the 3rd quarter worth $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.