Wix.com (NASDAQ:WIX) Price Target Cut to $235.00 by Analysts at Barclays

Key Points

• Analysts at Barclays have reduced their price target for Wix.com from $240.00 to $235.00, indicating a potential upside of 78.99% from the last closing price.
• Wix.com reported $2.28 EPS for the last quarter, exceeding estimates of $1.79, along with a revenue increase of 12.4% year-over-year.
• A majority of analysts maintain a positive outlook on Wix.com, with 18 buy ratings and an average price target of $219.58.

Wix.com (NASDAQ:WIX - Get Free Report) had its target price lowered by research analysts at Barclays from $240.00 to $235.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the information services provider's stock. Barclays's price target would indicate a potential upside of 78.99% from the company's previous close.

Several other equities analysts have also commented on the stock. Citigroup reduced their target price on shares of Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Piper Sandler lowered their price objective on Wix.com from $262.00 to $225.00 and set an "overweight" rating for the company in a research report on Thursday, May 22nd. JPMorgan Chase & Co. cut their target price on shares of Wix.com from $189.00 to $166.00 and set a "neutral" rating on the stock in a report on Wednesday. Bank of America dropped their price target on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday, May 21st. Finally, Morgan Stanley lowered their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Two investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, Wix.com has an average rating of "Buy" and an average price target of $219.58.

Wix.com Trading Up 2.2%

Shares of NASDAQ:WIX traded up $2.80 during trading on Thursday, reaching $131.29. The company had a trading volume of 360,950 shares, compared to its average volume of 912,445. Wix.com has a 12 month low of $126.22 and a 12 month high of $247.11. The stock has a market capitalization of $7.37 billion, a P/E ratio of 52.14, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. The company has a fifty day moving average of $152.79 and a two-hundred day moving average of $174.11.

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

Institutional Investors Weigh In On Wix.com

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Fox Run Management L.L.C. raised its holdings in Wix.com by 39.0% in 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 purchasing an additional 2,778 shares during the period. Metis Global Partners LLC purchased a new position in shares of Wix.com during the 2nd quarter valued at about $228,000. Penserra Capital Management LLC purchased a new stake in Wix.com in the 2nd quarter worth approximately $77,000. O Brien Greene & Co. Inc raised its stake in Wix.com by 359.9% during the 2nd quarter. O Brien Greene & Co. Inc now owns 6,006 shares of the information services provider's stock worth $952,000 after acquiring an additional 4,700 shares during the period. Finally, Yelin Lapidot Holdings Management Ltd. boosted its position in shares of Wix.com by 4.9% in the second quarter. Yelin Lapidot Holdings Management Ltd. now owns 14,040 shares of the information services provider's stock worth $2,225,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 81.52% of the company's stock.

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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