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

Wix.com (NASDAQ:WIX)‘s stock had its “overweight” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $200.00 price target on the information services provider’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 21.74% from the company’s previous close.

Other equities analysts have also issued reports about the company. Benchmark lifted their price objective on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. KeyCorp assumed coverage on Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $180.00 price objective on shares of Wix.com in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on Wix.com from $148.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $190.00 price objective on shares of Wix.com in a research note on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and an average target price of $190.19.

Wix.com Price Performance

WIX opened at $164.29 on Monday. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 144.11, a price-to-earnings-growth ratio of 3.47 and a beta of 1.47. The business has a 50-day moving average of $160.38 and a two-hundred day moving average of $150.70. Wix.com has a 12 month low of $76.90 and a 12 month high of $178.65.

Wix.com (NASDAQ:WIX) last posted its quarterly 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 negative return on equity of 49.05% and a net margin of 4.44%. The firm’s revenue was up 11.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.58 EPS. Equities research analysts anticipate that Wix.com will post 2.01 earnings per share for the current year.

Institutional Investors Weigh In On Wix.com

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dorsal Capital Management LP increased its holdings in shares of Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Wix.com by 10.7% in the 4th quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock valued at $148,942,000 after acquiring an additional 117,146 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Wix.com by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after acquiring an additional 33,338 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after acquiring an additional 171,500 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Wix.com in the 4th quarter valued at approximately $34,554,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

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.