Wix.com (NASDAQ:WIX) Given "Market Outperform" Rating at JMP Securities

Key Points

• Wix.com received a "market outperform" rating from JMP Securities with a target price of $210.00, suggesting a potential upside of 35.83% from its current price.
• Wix.com reported $2.28 earnings per share for the latest quarter, exceeding analysts' expectations, and showed a 12.4% revenue growth year-over-year.
• The company has authorized a $200 million stock repurchase plan, indicating management's belief that its shares are undervalued.

Wix.com (NASDAQ:WIX - Get Free Report)'s stock had its "market outperform" rating reiterated by investment analysts at JMP Securities in a report released on Friday,Benzinga reports. They presently have a $210.00 price target on the information services provider's stock. JMP Securities' price objective would indicate a potential upside of 35.83% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Citigroup reiterated an "outperform" rating on shares of Wix.com in a report on Tuesday, September 23rd. Needham & Company LLC cut their target price on shares of Wix.com from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Barclays set a $235.00 price target on shares of Wix.com and gave the company an "overweight" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. lowered their price objective on shares of Wix.com from $189.00 to $166.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Finally, Zacks Research upgraded Wix.com from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Wix.com has a consensus rating of "Buy" and an average price target of $215.37.

Wix.com Stock Up 0.6%

Shares of Wix.com stock opened at $154.61 on Friday. The company's fifty day simple moving average is $148.48 and its two-hundred day simple moving average is $156.65. Wix.com has a 12-month low of $114.89 and a 12-month high of $247.11. The firm has a market cap of $8.67 billion, a PE ratio of 55.01, a price-to-earnings-growth ratio of 2.96 and a beta of 1.32.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. The company had revenue of $489.93 million during the quarter, compared to analyst estimates of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. Wix.com's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.67 earnings per share. As a group, sell-side analysts expect that Wix.com will post 3.65 earnings per share for the current fiscal year.

Wix.com declared that its board has authorized a stock repurchase plan on Monday, August 11th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $28,000 after acquiring an additional 66 shares during the last quarter. Procyon Advisors LLC increased its holdings in shares of Wix.com by 5.1% in the first quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock valued at $226,000 after purchasing an additional 67 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Wix.com by 8.9% during the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider's stock worth $161,000 after buying an additional 79 shares in the last quarter. Yousif Capital Management LLC boosted its stake in Wix.com by 4.9% during the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after buying an additional 85 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in Wix.com by 3.3% in the 1st quarter. Signaturefd LLC now owns 3,402 shares of the information services provider's stock valued at $556,000 after buying an additional 109 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.

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