JMP Securities Reaffirms “Market Outperform” Rating for Wix.com (NASDAQ:WIX)

JMP Securities reaffirmed their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a report published on Thursday, Benzinga reports. The firm currently has a $180.00 price target on the information services provider’s stock.

Several other analysts have also recently issued reports on WIX. JPMorgan Chase & Co. increased 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. Benchmark increased their price objective on Wix.com from $175.00 to $210.00 and gave the company a buy rating in a research note on Tuesday, May 21st. Raymond James began coverage on Wix.com in a research note on Wednesday, March 27th. They issued an outperform rating and a $160.00 price objective on the stock. B. Riley increased their price objective on Wix.com from $154.00 to $180.00 and gave the company a buy rating in a research note on Tuesday, May 21st. Finally, Oppenheimer increased their price objective on Wix.com from $160.00 to $200.00 and gave the company an outperform rating in a research note on Tuesday, May 21st. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Wix.com presently has a consensus rating of Moderate Buy and a consensus price target of $180.31.

Wix.com Stock Up 0.2 %

NASDAQ:WIX opened at $155.81 on Thursday. The stock’s fifty day moving average is $163.09 and its two-hundred day moving average is $141.95. Wix.com has a 52 week low of $76.90 and a 52 week high of $178.65. The stock has a market capitalization of $8.91 billion, a price-to-earnings ratio of 136.68, a price-to-earnings-growth ratio of 3.67 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Monday, May 20th. The information services provider reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.18. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. The company had revenue of $419.78 million for the quarter, compared to analysts’ expectations of $417.71 million. On average, sell-side analysts expect that Wix.com will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Wix.com

Several hedge funds have recently made changes to their positions in WIX. HighMark Wealth Management LLC purchased a new position in shares of Wix.com during the fourth quarter worth about $26,000. Northwest Bank & Trust Co purchased a new position in shares of Wix.com during the fourth quarter worth about $26,000. Fidelis Capital Partners LLC purchased a new position in shares of Wix.com during the first quarter worth about $37,000. Principal Securities Inc. purchased a new position in shares of Wix.com during the fourth quarter worth about $93,000. Finally, Industrial Alliance Investment Management Inc. grew its holdings in shares of Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares during the last quarter. 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.