Wix.com Ltd. (NASDAQ:WIX - Get Free Report) gapped up before the market opened on Wednesday after Bank of America raised their price target on the stock from $228.00 to $270.00. The stock had previously closed at $227.78, but opened at $234.84. Bank of America currently has a buy rating on the stock. Wix.com shares last traded at $218.50, with a volume of 525,000 shares.
Several other equities analysts have also weighed in on WIX. Royal Bank of Canada increased their price objective on shares of Wix.com from $190.00 to $245.00 and gave the company an "outperform" rating in a research report on Thursday, November 21st. JMP Securities restated a "market outperform" rating and set a $240.00 price objective on shares of Wix.com in a report on Tuesday. Citigroup upped their target price on Wix.com from $260.00 to $270.00 and gave the company a "buy" rating in a research report on Friday, January 3rd. Benchmark lifted their price target on Wix.com from $225.00 to $250.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group upped their price objective on Wix.com from $225.00 to $260.00 and gave the company a "buy" rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Wix.com presently has an average rating of "Moderate Buy" and a consensus price target of $240.22.
Get Our Latest Stock Report on Wix.com
A number of institutional investors and hedge funds have recently made changes to their positions in WIX. CWM LLC increased its position in Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider's stock worth $106,000 after purchasing an additional 101 shares in the last quarter. Creative Planning increased its holdings in shares of Wix.com by 15.8% during the third quarter. Creative Planning now owns 9,310 shares of the information services provider's stock worth $1,556,000 after buying an additional 1,269 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock worth $31,000 after buying an additional 98 shares in the last quarter. Toth Financial Advisory Corp bought a new position in shares of Wix.com in the 3rd quarter valued at $661,000. Finally, Signaturefd LLC boosted its holdings in shares of Wix.com by 5.3% during the 3rd quarter. Signaturefd LLC now owns 3,442 shares of the information services provider's stock valued at $575,000 after acquiring an additional 173 shares in the last quarter. Institutional investors own 81.52% of the company's stock.
The business has a 50-day moving average of $226.72 and a two-hundred day moving average of $192.17. The firm has a market cap of $12.01 billion, a P/E ratio of 137.25, a price-to-earnings-growth ratio of 2.49 and a beta of 1.58.
Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings results on Wednesday, February 19th. The information services provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $1.61 by ($0.69). Wix.com had a negative return on equity of 52.68% and a net margin of 5.47%. As a group, equities analysts expect that Wix.com Ltd. will post 2.11 EPS for the current year.
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.
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