Cantor Fitzgerald Reaffirms Overweight Rating for Wix.com (NASDAQ:WIX)

Wix.com (NASDAQ:WIX)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a note issued to investors on Monday, Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 26.99% from the stock’s current price.

WIX has been the topic of a number of other research reports. Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and raised their target price for the company from $184.00 to $200.00 in a report on Monday, September 23rd. UBS Group lifted their target price on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. KeyCorp began coverage on Wix.com in a research note on Thursday, July 25th. They set a “sector weight” rating for the company. Needham & Company LLC restated a “buy” rating and issued a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Finally, Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Stock Down 5.8 %

WIX stock opened at $157.49 on Monday. The company has a market cap of $9.00 billion, a PE ratio of 139.88, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47. Wix.com has a 52 week low of $76.90 and a 52 week high of $178.65. The business has a 50-day simple moving average of $160.85 and a 200 day simple moving average of $151.52.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, beating the consensus estimate of $1.32 by $0.35. The company had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 EPS. On average, analysts anticipate that Wix.com will post 2.1 EPS for the current fiscal year.

Hedge Funds Weigh In On Wix.com

A number of hedge funds have recently modified their holdings of WIX. Northwest Bank & Trust Co bought a new position in shares of Wix.com during the fourth quarter worth about $26,000. Fidelis Capital Partners LLC bought a new position in Wix.com during the 1st quarter worth approximately $37,000. Industrial Alliance Investment Management Inc. raised its holdings 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 worth $94,000 after purchasing an additional 488 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares during the period. Finally, Optimist Retirement Group LLC bought a new stake in shares of Wix.com in the 4th quarter valued at $201,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Company Profile

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.