Wix.com (NASDAQ:WIX) Stock Rating Reaffirmed by Needham & Company LLC

Wix.com (NASDAQ:WIX - Get Free Report)'s stock had its "buy" rating reissued by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $160.00 price target on the information services provider's stock. Needham & Company LLC's price objective suggests a potential downside of 4.77% from the company's current price.

Several other brokerages also recently weighed in on WIX. Raymond James initiated coverage on Wix.com in a research note on Wednesday, March 27th. They set an "outperform" rating and a $160.00 target price for the company. Barclays increased their target price on Wix.com from $147.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. UBS Group increased their target price on Wix.com from $155.00 to $160.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. B. Riley increased their target price on Wix.com from $120.00 to $141.00 and gave the company an "overweight" rating in a research note on Thursday, February 22nd. Finally, Benchmark restated a "buy" rating and set a $175.00 target price on shares of Wix.com in a research note on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Wix.com has a consensus rating of "Moderate Buy" and a consensus target price of $146.00.

Wix.com Stock Performance

Shares of WIX traded up $32.34 during trading hours on Monday, hitting $168.02. 5,035,821 shares of the company were exchanged, compared to its average volume of 607,859. The company has a market cap of $9.35 billion, a PE ratio of 305.49, a PEG ratio of 4.67 and a beta of 1.34. The firm's 50 day moving average is $131.01 and its 200-day moving average is $122.68. Wix.com has a 52 week low of $73.39 and a 52 week high of $170.41.

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

Hedge Funds Weigh In On Wix.com

A number of hedge funds have recently modified their holdings of WIX. HighMark Wealth Management LLC acquired a new stake in Wix.com during the 4th quarter valued at $26,000. Northwest Bank & Trust Co acquired a new stake in Wix.com during the 4th quarter valued at $26,000. Fidelis Capital Partners LLC acquired a new stake in Wix.com during the 1st quarter valued at $37,000. Headlands Technologies LLC acquired a new stake in Wix.com during the 3rd quarter valued at $45,000. Finally, Principal Securities Inc. acquired a new stake in Wix.com during the 4th quarter valued at $93,000. 81.52% of the stock is owned by institutional investors and hedge funds.

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.