Piper Sandler Lowers Wix.com (NASDAQ:WIX) to Neutral

Wix.com (NASDAQ:WIX - Get Free Report) was downgraded by investment analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a $184.00 price objective on the information services provider's stock, up from their previous price objective of $165.00. Piper Sandler's target price indicates a potential upside of 6.36% from the stock's current price.

A number of other research firms have also commented on WIX. Jefferies Financial Group raised their price objective on shares of Wix.com from $150.00 to $160.00 and gave the company a "buy" rating in a research report on Monday. UBS Group boosted their price target on shares of Wix.com from $155.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, February 22nd. Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price objective on shares of Wix.com in a research report on Monday. StockNews.com cut Wix.com from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Morgan Stanley decreased their target price on Wix.com from $157.00 to $143.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Wix.com presently has an average rating of "Moderate Buy" and an average target price of $170.81.

Wix.com Stock Up 3.0 %

WIX traded up $4.98 on Tuesday, hitting $173.00. The company's stock had a trading volume of 1,830,013 shares, compared to its average volume of 619,829. Wix.com has a 12 month low of $73.39 and a 12 month high of $174.09. The firm has a market cap of $9.63 billion, a P/E ratio of 314.55, a price-to-earnings-growth ratio of 4.67 and a beta of 1.34. The company's 50 day simple moving average is $131.64 and its 200-day simple moving average is $123.28.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The firm had revenue of $403.80 million during the quarter, compared to analyst estimates of $416.87 million. During the same period last year, the company earned ($0.42) earnings per share. The business's revenue for the quarter was up 13.7% on a year-over-year basis. Equities analysts predict that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. grew its position in Wix.com by 6.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 267,034 shares of the information services provider's stock worth $32,851,000 after acquiring an additional 15,000 shares during the last quarter. Senvest Management LLC grew its holdings in shares of Wix.com by 27.4% in the fourth quarter. Senvest Management LLC now owns 772,191 shares of the information services provider's stock worth $94,995,000 after purchasing an additional 166,254 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Wix.com by 112.1% in the third quarter. Canada Pension Plan Investment Board now owns 48,430 shares of the information services provider's stock worth $4,446,000 after buying an additional 25,600 shares during the period. Nordea Investment Management AB raised its holdings in Wix.com by 13.5% during the 4th quarter. Nordea Investment Management AB now owns 3,792 shares of the information services provider's stock valued at $472,000 after buying an additional 450 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its position in Wix.com by 5.3% during the 4th quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider's stock valued at $140,710,000 after buying an additional 57,090 shares during the period. Hedge funds and other 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.