UBS Group Issues Pessimistic Forecast for Wix.com (NASDAQ:WIX) Stock Price

Key Points

• UBS Group has reduced its price target for Wix.com’s stock from $230.00 to $200.00, maintaining a "buy" rating while indicating a potential upside of 45.70% from the previous close.
• Other research firms have also lowered their target prices for Wix.com, with Benchmark setting it at $245.00 and Piper Sandler at $225.00, yet most analysts still maintain a "buy" rating.
• Wix.com's shares increased by 6.8%, closing at $137.27, despite a market cap of $7.70 billion and a P/E ratio of 54.20.

Wix.com (NASDAQ:WIX - Get Free Report) had its price target cut by UBS Group from $230.00 to $200.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the information services provider's stock. UBS Group's price objective points to a potential upside of 45.70% from the company's previous close.

Several other research firms have also commented on WIX. Benchmark cut their target price on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Piper Sandler dropped their price objective on Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a research note on Thursday, May 22nd. B. Riley reaffirmed a "buy" rating and issued a $230.00 target price (down previously from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Needham & Company LLC decreased their price target on Wix.com from $250.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Citigroup dropped their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Two research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of "Buy" and a consensus price target of $218.00.

Wix.com Trading Up 6.8%

Shares of NASDAQ:WIX traded up $8.78 during trading on Thursday, hitting $137.27. 2,035,500 shares of the company were exchanged, compared to its average volume of 924,106. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 54.20, a P/E/G ratio of 2.04 and a beta of 1.27. Wix.com has a fifty-two week low of $126.22 and a fifty-two week high of $247.11. The firm has a fifty day moving average price of $152.79 and a two-hundred day moving average price of $174.11.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 80.80% and a net margin of 8.16%. The firm had revenue of $489.93 million during the quarter, compared to analyst estimates of $487.62 million. During the same period last year, the firm posted $1.67 EPS. The business's revenue was up 12.4% compared to the same quarter last year. As a group, research analysts predict that Wix.com will post 3.65 EPS for the current year.

Institutional Trading of Wix.com

Several institutional investors and hedge funds have recently bought and sold shares of WIX. Zions Bancorporation National Association UT raised its position in shares of Wix.com by 76,757.1% in the 2nd quarter. Zions Bancorporation National Association UT now owns 5,380 shares of the information services provider's stock worth $853,000 after purchasing an additional 5,373 shares during the last quarter. Acadian Asset Management LLC increased its stake in Wix.com by 0.4% during the second quarter. Acadian Asset Management LLC now owns 2,119,805 shares of the information services provider's stock worth $335,852,000 after acquiring an additional 7,729 shares during the last quarter. Fox Run Management L.L.C. lifted its stake in shares of Wix.com by 39.0% during the 2nd quarter. Fox Run Management L.L.C. now owns 9,906 shares of the information services provider's stock worth $1,570,000 after acquiring an additional 2,778 shares during the last quarter. Metis Global Partners LLC purchased a new stake in shares of Wix.com during the 2nd quarter worth $228,000. Finally, Penserra Capital Management LLC purchased a new position in Wix.com in the second quarter worth $77,000. 81.52% of the stock is currently owned by hedge funds and other 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.

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