Wix.com (NASDAQ:WIX) Price Target Lowered to $160.00 at JMP Securities

Key Points

• Wix.com had its target price lowered from $250.00 to $160.00 by JMP Securities, indicating a potential upside of 30.24% from its current trading price.
• Analysts have mixed recommendations for Wix.com, with two holding a "hold" rating, eighteen a "buy" rating, and three a "strong buy" rating; the average target price across analysts is $213.53.
• The company's recent quarterly earnings revealed a $2.28 EPS, exceeding expectations, and a 12.4% year-over-year revenue growth at $489.93 million.

Wix.com (NASDAQ:WIX - Get Free Report) had its target price reduced by research analysts at JMP Securities from $250.00 to $160.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a "market outperform" rating on the information services provider's stock. JMP Securities' price objective would indicate a potential upside of 30.24% from the company's current price.

Several other equities research analysts have also recently weighed in on WIX. Robert W. Baird raised Wix.com from a "neutral" rating to an "outperform" rating and decreased their price target for the company from $215.00 to $190.00 in a research note on Friday, May 23rd. B. Riley reissued a "buy" rating and issued a $230.00 price target (down previously from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Barclays decreased their target price on Wix.com from $240.00 to $235.00 and set an "overweight" rating for the company in a research note on Thursday. Bank of America lowered their target price on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Finally, Morgan Stanley lowered their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Two research 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 company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $213.53.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $122.85 on Monday. The stock has a market capitalization of $6.89 billion, a PE ratio of 43.72, a P/E/G ratio of 1.97 and a beta of 1.27. The business has a fifty day moving average price of $151.92 and a two-hundred day moving average price of $171.69. Wix.com has a fifty-two week low of $121.84 and a fifty-two week high of $247.11.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%. The company had revenue of $489.93 million during the quarter, compared to analysts' expectations of $487.62 million. During the same quarter in the previous year, the firm earned $1.67 EPS. Wix.com's revenue was up 12.4% on a year-over-year basis. On average, equities analysts expect that Wix.com will post 3.65 EPS for the current year.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted 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 worth $28,000 after buying an additional 66 shares during the period. Twin Tree Management LP purchased a new stake in Wix.com in the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. lifted its holdings in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after buying an additional 215 shares during the period. Blue Trust Inc. lifted its stake in shares of Wix.com by 47.8% in the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider's stock valued at $65,000 after purchasing an additional 132 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in shares of Wix.com by 183.3% during the first quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock valued at $78,000 after purchasing an additional 308 shares in the last quarter. 81.52% of the stock is currently 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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