Wix.com (NASDAQ:WIX) Receives Buy Rating from Needham & Company LLC

Wix.com (NASDAQ:WIX)‘s stock had its “buy” rating restated by Needham & Company LLC in a report released on Wednesday, Benzinga reports. They currently have a $190.00 price objective on the information services provider’s stock. Needham & Company LLC’s price target would indicate a potential upside of 16.05% from the stock’s previous close.

A number of other research analysts have also issued reports on WIX. JMP Securities reiterated a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. UBS Group raised their price target on shares of Wix.com from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Jefferies Financial Group raised their price target on shares of Wix.com from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, May 20th. B. Riley raised their price target on shares of Wix.com from $154.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Finally, Royal Bank of Canada raised their price target on shares of Wix.com from $160.00 to $190.00 and gave the stock an “outperform” rating in a report on Tuesday, May 21st. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and an average target price of $183.56.

Wix.com Trading Up 4.7 %

WIX stock opened at $163.72 on Wednesday. The firm has a 50-day moving average price of $160.75 and a 200-day moving average price of $143.53. The stock has a market capitalization of $8.98 billion, a P/E ratio of 143.62, a price-to-earnings-growth ratio of 3.71 and a beta of 1.47. Wix.com has a 12 month low of $76.90 and a 12 month high of $178.65.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Monday, May 20th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.18. The business had revenue of $419.78 million during the quarter, compared to analyst estimates of $417.71 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. As a group, equities analysts predict that Wix.com will post 1.91 EPS for the current fiscal year.

Institutional Trading of Wix.com

Hedge funds have recently bought and sold shares of the business. Northwest Bank & Trust Co acquired a new stake in Wix.com in the 4th quarter valued at $26,000. Fidelis Capital Partners LLC bought a new position in Wix.com during the 1st quarter valued at $37,000. Principal Securities Inc. bought a new position in Wix.com during the 4th quarter valued at $93,000. Industrial Alliance Investment Management Inc. lifted its stake in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after acquiring an additional 488 shares in the last quarter. Finally, Optimist Retirement Group LLC bought a new position in Wix.com during the 4th quarter valued at $201,000. 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.