JMP Securities Increases Wix.com (NASDAQ:WIX) Price Target to $150.00

Wix.com (NASDAQ:WIXGet Free Report) had its price target raised by equities researchers at JMP Securities from $130.00 to $150.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “market outperform” rating on the information services provider’s stock. JMP Securities’ price target would indicate a potential upside of 16.63% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. UBS Group boosted their price objective on shares of Wix.com from $120.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Benchmark restated a “buy” rating and issued a $130.00 price objective on shares of Wix.com in a research report on Wednesday, November 8th. Piper Sandler reiterated an “overweight” rating and set a $130.00 target price on shares of Wix.com in a research report on Friday, November 10th. StockNews.com initiated coverage on shares of Wix.com in a research report on Friday, October 6th. They set a “buy” rating for the company. Finally, Bank of America reiterated a “buy” rating and set a $126.00 target price on shares of Wix.com in a research report on Friday, December 8th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $122.06.

Get Our Latest Analysis on Wix.com

Wix.com Trading Up 1.4 %

WIX stock traded up $1.72 during trading on Wednesday, reaching $128.61. 539,972 shares of the stock were exchanged, compared to its average volume of 574,670. The stock has a 50 day simple moving average of $114.49 and a 200-day simple moving average of $97.68. The company has a market capitalization of $7.35 billion, a P/E ratio of -756.48 and a beta of 1.36. Wix.com has a twelve month low of $73.39 and a twelve month high of $133.09.

Wix.com (NASDAQ:WIXGet Free Report) last announced its earnings results on Thursday, November 9th. The information services provider reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.19. The business had revenue of $393.84 million for the quarter, compared to the consensus estimate of $389.51 million. Wix.com had a negative return on equity of 7.96% and a negative net margin of 0.58%. Equities analysts predict that Wix.com will post 0.52 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WIX. Bank of New York Mellon Corp increased its holdings in shares of Wix.com by 8.5% during the first quarter. Bank of New York Mellon Corp now owns 303,165 shares of the information services provider’s stock worth $31,669,000 after purchasing an additional 23,843 shares during the period. US Bancorp DE boosted its position in shares of Wix.com by 39.7% during the 1st quarter. US Bancorp DE now owns 2,782 shares of the information services provider’s stock worth $290,000 after acquiring an additional 791 shares in the last quarter. Citigroup Inc. boosted its position in shares of Wix.com by 58.1% during the 1st quarter. Citigroup Inc. now owns 47,694 shares of the information services provider’s stock worth $4,982,000 after acquiring an additional 17,530 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of Wix.com during the 1st quarter worth approximately $346,000. Finally, Ergoteles LLC boosted its position in shares of Wix.com by 388.6% during the 1st quarter. Ergoteles LLC now owns 44,121 shares of the information services provider’s stock worth $4,609,000 after acquiring an additional 35,091 shares in the last quarter. 83.91% of the stock is owned by institutional investors.

About Wix.com

(Get Free Report)

Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs.

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