Cantor Fitzgerald Reaffirms “Overweight” Rating for Wix.com (NASDAQ:WIX)

Cantor Fitzgerald restated their overweight rating on shares of Wix.com (NASDAQ:WIX) in a research note released on Monday, Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock.

Several other research firms have also recently weighed in on WIX. StockNews.com upgraded shares of Wix.com from a hold rating to a buy rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Wix.com from $148.00 to $195.00 and gave the company a neutral rating in a report on Wednesday, May 29th. Bank of America lifted their target price on shares of Wix.com from $153.00 to $183.00 and gave the company a buy rating in a research report on Thursday, June 6th. UBS Group increased their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Finally, JMP Securities reaffirmed a market outperform rating and set a $180.00 price objective on shares of Wix.com in a report on Thursday, July 25th. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $190.19.

Wix.com Stock Performance

WIX stock opened at $169.74 on Monday. The firm has a 50 day simple moving average of $160.54 and a 200 day simple moving average of $150.83. Wix.com has a 52 week low of $76.90 and a 52 week high of $178.65. The stock has a market cap of $9.31 billion, a P/E ratio of 148.90, a P/E/G ratio of 3.49 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. The business 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%. Wix.com’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. Sell-side analysts predict that Wix.com will post 2.1 EPS for the current year.

Institutional Trading of Wix.com

Institutional investors have recently modified their holdings of the business. Northwest Bank & Trust Co bought a new position in shares of Wix.com in the fourth quarter valued at $26,000. Fidelis Capital Partners LLC purchased a new stake in Wix.com in the first quarter worth $37,000. Industrial Alliance Investment Management Inc. boosted its holdings in Wix.com by 246.5% in the 1st 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 period. Toronto Dominion Bank raised its stake in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after purchasing an additional 124 shares during the period. Finally, Optimist Retirement Group LLC purchased a new position in Wix.com during the fourth quarter valued at approximately $201,000. Institutional investors own 81.52% of the company’s stock.

About Wix.com

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.