KeyCorp Increases Wix.com (NASDAQ:WIX) Price Target to $375.00

Wix.com (NASDAQ:WIX) had its price target hoisted by analysts at KeyCorp from $350.00 to $375.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the information services provider’s stock. KeyCorp’s target price would indicate a potential upside of 68.43% from the stock’s previous close.

A number of other brokerages have also issued reports on WIX. Needham & Company LLC lowered their target price on shares of Wix.com from $340.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday. JMP Securities lowered their target price on shares of Wix.com from $370.00 to $350.00 and set a “market outperform” rating for the company in a research note on Thursday. Rosenblatt Securities lowered their target price on shares of Wix.com from $270.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday. Zacks Investment Research raised shares of Wix.com from a “sell” rating to a “hold” rating and set a $310.00 target price for the company in a research note on Tuesday, April 20th. Finally, Barclays lowered their price objective on shares of Wix.com from $340.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $320.28.

WIX stock opened at $222.64 on Monday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 1.81. Wix.com has a twelve month low of $190.24 and a twelve month high of $362.07. The stock has a market capitalization of $12.47 billion, a price-to-earnings ratio of -86.29 and a beta of 1.64. The firm’s fifty day simple moving average is $291.88 and its two-hundred day simple moving average is $278.25.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, May 12th. The information services provider reported ($0.54) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.54) by $1.00. The business had revenue of $304.10 million for the quarter, compared to analysts’ expectations of $295.05 million. Wix.com had a negative net margin of 15.92% and a negative return on equity of 46.89%. The business’s revenue was up 40.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, equities research analysts expect that Wix.com will post -3.2 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in WIX. BlackRock Inc. increased its holdings in shares of Wix.com by 55.7% during the fourth quarter. BlackRock Inc. now owns 4,280,647 shares of the information services provider’s stock valued at $1,069,990,000 after acquiring an additional 1,532,220 shares in the last quarter. Flossbach Von Storch AG acquired a new position in shares of Wix.com during the first quarter valued at about $352,236,000. Jennison Associates LLC increased its holdings in shares of Wix.com by 244.1% during the first quarter. Jennison Associates LLC now owns 1,448,141 shares of the information services provider’s stock valued at $404,350,000 after acquiring an additional 1,027,321 shares in the last quarter. Winslow Capital Management LLC increased its holdings in shares of Wix.com by 43.5% during the fourth quarter. Winslow Capital Management LLC now owns 1,060,388 shares of the information services provider’s stock valued at $265,054,000 after acquiring an additional 321,263 shares in the last quarter. Finally, Jackson Square Partners LLC increased its holdings in shares of Wix.com by 11.5% during the fourth quarter. Jackson Square Partners LLC now owns 2,628,255 shares of the information services provider’s stock valued at $656,958,000 after acquiring an additional 270,904 shares in the last quarter. 91.71% of the stock is owned by institutional investors and hedge funds.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, develops and markets cloud-based platform products and services in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; Editor X, a website creation platform; and Velo by Wix to create websites and web applications.

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