Wix.com (NASDAQ:WIX) Given a $200.00 Price Target by Raymond James Financial Analysts

Key Points

• Raymond James Financial has lowered its price target for Wix.com from $250.00 to $200.00, while maintaining a "strong-buy" rating, indicating a potential upside of 49.62% from the current stock price.
• Several other firms have also adjusted their ratings and price targets for Wix.com, with results ranging from upgrades to price reductions; the consensus rating remains a "Buy" with an average price target of $219.84.
• Wix.com reported earnings exceeding analyst expectations, with a quarterly revenue of $489.93 million, demonstrating a year-over-year growth of 12.4%.

Wix.com (NASDAQ:WIX - Get Free Report) received a $200.00 price objective from analysts at Raymond James Financial in a report released on Thursday, MarketBeat reports. The firm presently has a "strong-buy" rating on the information services provider's stock. Raymond James Financial's target price suggests a potential upside of 57.34% from the stock's previous close.

WIX has been the topic of several other reports. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of Wix.com in a report on Wednesday, June 18th. B. Riley reaffirmed a "buy" rating and set a $230.00 price objective (down from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th. Cfra Research lowered Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Baird R W upgraded shares of Wix.com from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Finally, Barclays restated an "overweight" rating and set a $240.00 target price on shares of Wix.com in a report on Wednesday, July 16th. Two equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $218.26.

Wix.com Stock Down 4.8%

NASDAQ:WIX traded down $6.38 during trading hours on Thursday, reaching $127.11. The company had a trading volume of 583,221 shares, compared to its average volume of 930,607. The firm has a market capitalization of $7.13 billion, a PE ratio of 45.20, a PEG ratio of 2.05 and a beta of 1.27. The stock has a 50-day moving average of $152.44 and a two-hundred day moving average of $173.37. Wix.com has a one year low of $126.22 and a one year high of $247.11.

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 for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 129.27%. The company had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. During the same period in the previous year, the firm posted $1.67 earnings per share. The company's revenue was up 12.4% on a year-over-year basis. As a group, sell-side analysts expect that Wix.com will post 3.65 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its holdings in Wix.com by 63.5% in the first 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. Procyon Advisors LLC lifted its position in Wix.com by 5.1% in the 1st quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock valued at $226,000 after acquiring an additional 67 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Wix.com by 9.7% during the fourth quarter. Bessemer Group Inc. now owns 871 shares of the information services provider's stock valued at $188,000 after purchasing an additional 77 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Wix.com by 8.9% in the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider's stock worth $161,000 after purchasing an additional 79 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in Wix.com by 4.9% in the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after purchasing an additional 85 shares during the last quarter. 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.