Wix.com (NASDAQ:WIX) Price Target Cut to $143.00

Wix.com (NASDAQ:WIX) had its price objective reduced by equities research analysts at Morgan Stanley from $157.00 to $143.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the information services provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 16.62% from the stock’s previous close.

Several other equities research analysts have also issued reports on the company. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday. Needham & Company LLC reaffirmed a “buy” rating and set a $150.00 price target on shares of Wix.com in a research note on Wednesday, February 21st. Royal Bank of Canada lifted their price target on Wix.com from $135.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 22nd. JMP Securities lifted their price target on Wix.com from $130.00 to $150.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 24th. Finally, Raymond James began coverage on Wix.com in a research note on Wednesday, March 27th. They set an “outperform” rating and a $160.00 price target for the company. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $144.29.

Wix.com Trading Down 0.9 %

Shares of NASDAQ WIX traded down $1.09 during mid-day trading on Wednesday, hitting $122.62. The company had a trading volume of 292,543 shares, compared to its average volume of 557,683. The company has a market capitalization of $6.82 billion, a price-to-earnings ratio of 224.80, a P/E/G ratio of 4.27 and a beta of 1.33. Wix.com has a 1 year low of $73.39 and a 1 year high of $146.21. The stock’s 50-day moving average price is $135.18 and its 200-day moving average price is $115.46.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.24. The company had revenue of $403.80 million during the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.42) earnings per share. As a group, equities research analysts forecast that Wix.com will post 1.16 earnings per share for the current year.

Institutional Trading of Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. HighMark Wealth Management LLC bought a new position in Wix.com in the 4th quarter valued at approximately $26,000. Northwest Bank & Trust Co bought a new position in Wix.com in the 4th quarter valued at approximately $26,000. Quarry LP bought a new position in Wix.com in the 2nd quarter valued at approximately $29,000. UniSuper Management Pty Ltd bought a new position in Wix.com in the 2nd quarter valued at approximately $31,000. Finally, BluePath Capital Management LLC bought a new position in Wix.com in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors 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.