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

Wix.com (NASDAQ:WIX) had its price target cut by Barclays from $186.00 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.

A number of other analysts have also weighed in on WIX. JMP Securities restated a market outperform rating and set a $180.00 target price on shares of Wix.com in a research note on Thursday, July 25th. UBS Group upped their target price on shares of Wix.com from $200.00 to $205.00 and gave the stock a buy rating in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $200.00 price target on shares of Wix.com in a report on Monday. Evercore ISI raised Wix.com to a strong-buy rating in a report on Monday, August 5th. Finally, Benchmark upped their price target on Wix.com from $210.00 to $225.00 and gave the company a buy rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $190.06.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $156.75 on Tuesday. The firm has a market capitalization of $8.96 billion, a PE ratio of 137.50, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47. The firm’s 50-day moving average is $160.62 and its two-hundred day moving average is $151.77. Wix.com has a 1 year low of $76.90 and a 1 year high of $178.65.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The company had revenue of $435.70 million for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.58 earnings per share. Analysts expect that Wix.com will post 2.1 EPS for the current fiscal year.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently modified their holdings of the stock. Northwest Bank & Trust Co purchased a new stake in shares of Wix.com during the 4th quarter worth about $26,000. Fidelis Capital Partners LLC acquired a new position in shares of Wix.com during the 1st quarter valued at about $37,000. Industrial Alliance Investment Management Inc. increased its holdings in shares of 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 during the last quarter. Toronto Dominion Bank increased its holdings in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 124 shares during the last quarter. Finally, First Trust Direct Indexing L.P. acquired a new position in shares of Wix.com during the 1st quarter valued at about $214,000. 81.52% of the stock is 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.