Wix.com (NASDAQ:WIX) Given New $187.00 Price Target at Morgan Stanley

Wix.com (NASDAQ:WIX) had its price objective hoisted by Morgan Stanley from $143.00 to $187.00 in a report issued on Tuesday, Benzinga reports. They currently have an equal weight rating on the information services provider’s stock.

WIX has been the subject of a number of other reports. Barclays increased their price objective on shares of Wix.com from $147.00 to $160.00 and gave the stock an overweight rating in a research note on Thursday, February 22nd. Piper Sandler lowered shares of Wix.com from an overweight rating to a neutral rating and increased their price objective for the company from $165.00 to $184.00 in a research report on Tuesday. Jefferies Financial Group boosted their price target on Wix.com from $150.00 to $160.00 and gave the company a buy rating in a research note on Monday, May 20th. B. Riley increased their target price on Wix.com from $154.00 to $180.00 and gave the stock a buy rating in a report on Tuesday. Finally, JMP Securities upped their target price on Wix.com from $150.00 to $180.00 and gave the stock a market outperform rating in a research note on Tuesday. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $170.81.

Wix.com Stock Up 2.9 %

WIX stock opened at $170.00 on Tuesday. The company has a market cap of $9.72 billion, a P/E ratio of 149.12, a PEG ratio of 6.48 and a beta of 1.34. Wix.com has a twelve month low of $73.39 and a twelve month high of $174.09. The business has a fifty day moving average of $132.67 and a 200-day moving average of $123.88.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.98 by $0.24. The firm had revenue of $403.80 million for the quarter, compared to analyst estimates of $416.87 million. Wix.com had a negative return on equity of 59.67% and a net margin of 4.20%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.42) earnings per share. As a group, equities research analysts anticipate that Wix.com will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB purchased a new position in shares of Wix.com in the first quarter worth $2,319,000. iA Global Asset Management Inc. grew its position in shares of Wix.com by 176.5% during the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock valued at $2,246,000 after acquiring an additional 10,427 shares during the period. Tidal Investments LLC purchased a new stake in Wix.com in the first quarter worth about $5,197,000. California State Teachers Retirement System lifted its stake in shares of Wix.com by 9.8% during the 1st quarter. California State Teachers Retirement System now owns 56,143 shares of the information services provider’s stock valued at $7,719,000 after buying an additional 5,033 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC lifted its holdings in Wix.com by 163.7% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 3,829 shares of the information services provider’s stock worth $526,000 after purchasing an additional 2,377 shares in the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.