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

Wix.com (NASDAQ:WIX) had its price target dropped by equities research analysts at Barclays from $186.00 to $184.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the information services provider’s stock. Barclays‘s price target suggests a potential upside of 14.94% from the company’s current price.

A number of other equities analysts have also recently issued reports on WIX. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a report on Monday, August 5th. Bank of America boosted their price objective on shares of Wix.com from $153.00 to $183.00 and gave the company a “buy” rating in a report on Thursday, June 6th. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. Benchmark raised their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research report on Monday. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Trading Up 1.7 %

Shares of NASDAQ WIX opened at $160.09 on Tuesday. Wix.com has a 1 year low of $76.90 and a 1 year high of $178.65. The firm’s 50-day moving average is $160.62 and its 200-day moving average is $151.67. The firm has a market capitalization of $9.15 billion, a PE ratio of 140.43, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $435.70 million during 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 quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. As a group, equities research analysts anticipate that Wix.com will post 2.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Wix.com

A number of institutional investors and hedge funds have recently made changes to their positions in WIX. Dorsal Capital Management LP grew its holdings in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares during the period. Capital Fund Management S.A. increased its holdings in shares of Wix.com by 1,378.7% during the 4th quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock worth $19,739,000 after acquiring an additional 149,605 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in Wix.com by 328.5% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock valued at $22,144,000 after acquiring an additional 137,991 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Wix.com by 10.7% during 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 purchasing an additional 117,146 shares during the last quarter. 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.