Wix.com (NASDAQ:WIX) Price Target Cut to $143.00

Wix.com (NASDAQ:WIX - Get Free Report) had its target price cut by research analysts at Morgan Stanley from $157.00 to $143.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an "equal weight" rating on the information services provider's stock. Morgan Stanley's target price would indicate a potential upside of 16.62% from the stock's current price.

Other analysts have also issued reports about the company. B. Riley boosted their price target on Wix.com from $120.00 to $141.00 and gave the company an "overweight" rating in a report on Thursday, February 22nd. Raymond James started coverage on Wix.com in a report on Wednesday, March 27th. They issued an "outperform" rating and a $160.00 price target on the stock. Benchmark boosted their price target on Wix.com from $132.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, February 22nd. Piper Sandler upped their target price on Wix.com from $146.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, February 22nd. Finally, Royal Bank of Canada upped their target price on Wix.com from $135.00 to $160.00 and gave the stock an "outperform" rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.29.

Wix.com Stock Performance

NASDAQ:WIX traded down $1.09 on Wednesday, reaching $122.62. The company's stock had a trading volume of 292,765 shares, compared to its average volume of 558,358. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21. The firm has a market cap of $6.82 billion, a PE ratio of 222.95, a PEG ratio of 4.27 and a beta of 1.33. The business's 50-day moving average price is $135.07 and its two-hundred day moving average price is $115.69.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $416.87 million. During the same period in the previous year, the firm earned ($0.42) earnings per share. The company's revenue was up 13.7% on a year-over-year basis. As a group, sell-side analysts expect that Wix.com will post 1.16 EPS for the current year.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently made changes to their positions in the company. HighMark Wealth Management LLC acquired a new stake in Wix.com during the fourth quarter worth approximately $26,000. Northwest Bank & Trust Co acquired a new stake in Wix.com during the fourth quarter worth approximately $26,000. Quarry LP acquired a new stake in Wix.com during the second quarter worth approximately $29,000. UniSuper Management Pty Ltd acquired a new stake in Wix.com during the second quarter worth approximately $31,000. Finally, BluePath Capital Management LLC acquired a new stake in Wix.com during the third quarter worth approximately $37,000. Institutional investors and hedge funds 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.