Wix.com (NASDAQ:WIX) Price Target Raised to $73.00

Wix.com (NASDAQ:WIX) had its target price lifted by Morgan Stanley from $65.00 to $73.00 in a research report report published on Wednesday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the information services provider’s stock.

A number of other equities analysts have also recently weighed in on WIX. Wedbush decreased their price objective on Wix.com from $80.00 to $75.00 and set a “neutral” rating on the stock in a report on Tuesday. Needham & Company LLC upped their target price on Wix.com from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Wall Street Zen raised Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Jefferies Financial Group reiterated a “buy” rating and set a $85.00 price target on shares of Wix.com in a research report on Tuesday. Finally, Royal Bank Of Canada decreased their price target on shares of Wix.com from $60.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Wix.com has an average rating of “Hold” and an average target price of $89.52.

Wix.com Stock Up 1.9%

Shares of WIX opened at $67.17 on Wednesday. The business’s 50-day moving average price is $75.79 and its 200-day moving average price is $70.00. The stock has a market cap of $3.92 billion, a PE ratio of -17.45, a P/E/G ratio of 43.60 and a beta of 1.06. Wix.com has a twelve month low of $40.16 and a twelve month high of $129.40.

Wix.com (NASDAQ:WIX) last posted its earnings results on Tuesday, November 10th. The information services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.54%. The business had revenue of $570.17 million during the quarter, compared to analysts’ expectations of $566.27 million. During the same period in the previous year, the business earned $1.80 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. Analysts expect that Wix.com will post 0.24 earnings per share for the current fiscal year.

Insider Transactions at Wix.com

In other news, CEO Avishai Abrahami bought 654 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $59.89 per share, for a total transaction of $39,168.06. Following the completion of the acquisition, the chief executive officer owned 486,225 shares of the company’s stock, valued at approximately $29,120,015.25. This trade represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shelly B. Meyer sold 479 shares of Wix.com stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $95.00, for a total transaction of $45,505.00. Following the completion of the transaction, the insider directly owned 183,010 shares in the company, valued at approximately $17,385,950. The trade was a 0.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 2,622 shares of company stock valued at $157,032. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Wix.com by 74.1% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the information services provider’s stock valued at $30,000 after acquiring an additional 177 shares during the period. Versant Capital Management Inc raised its stake in shares of Wix.com by 537.6% during the third quarter. Versant Capital Management Inc now owns 542 shares of the information services provider’s stock valued at $39,000 after acquiring an additional 457 shares during the last quarter. Advisors Asset Management Inc. bought a new position in shares of Wix.com during the third quarter valued at about $53,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Wix.com during the first quarter worth about $210,000. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Wix.com during the third quarter worth about $173,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.