JMP Securities Reiterates Market Outperform Rating for Wix.com (NASDAQ:WIX)

JMP Securities reaffirmed their market outperform rating on shares of Wix.com (NASDAQ:WIX - Free Report) in a research report report published on Thursday,Benzinga reports. They currently have a $250.00 price target on the information services provider's stock.

Several other equities research analysts also recently commented on WIX. Wall Street Zen raised shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 target price on shares of Wix.com in a research report on Thursday, May 22nd. JPMorgan Chase & Co. decreased their target price on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Finally, Barclays boosted their target price on shares of Wix.com from $236.00 to $240.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, Wix.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.16.

Wix.com Price Performance

Shares of NASDAQ:WIX traded up $2.72 during midday trading on Thursday, hitting $153.98. 884,877 shares of the company's stock were exchanged, compared to its average volume of 652,382. The stock has a 50 day moving average price of $165.00 and a 200-day moving average price of $196.72. The company has a market cap of $8.64 billion, a PE ratio of 65.61, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56. Wix.com has a 12 month low of $137.94 and a 12 month high of $247.11.

Wix.com declared that its board has approved a stock buyback program on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WIX. Northwestern Mutual Wealth Management Co. lifted its stake in Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock worth $28,000 after purchasing an additional 66 shares in the last quarter. Twin Tree Management LP purchased a new stake in Wix.com in the 1st quarter worth approximately $29,000. Newbridge Financial Services Group Inc. purchased a new stake in Wix.com in the 4th quarter worth approximately $43,000. Avior Wealth Management LLC lifted its stake in Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after purchasing an additional 89 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after purchasing an additional 58 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

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.