Wix.com (NASDAQ:WIX) Stock Rating Upgraded by StockNews.com

Posted by on Aug 6th, 2023

Wix.com (NASDAQ:WIX – Get Free Report) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Friday.

Other analysts have also recently issued research reports about the company. Morgan Stanley upped their price target on Wix.com from $102.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Friday. B. Riley initiated coverage on Wix.com in a research report on Wednesday, June 28th. They issued a “buy” rating and a $120.00 price target for the company. 58.com restated an “initiates” rating on shares of Wix.com in a research report on Wednesday, June 28th. Barclays upped their price target on Wix.com from $90.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Piper Sandler restated an “overweight” rating and issued a $120.00 price target on shares of Wix.com in a research report on Friday. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.00.

Wix.com Stock Performance

Wix.com stock opened at $94.21 on Friday. The stock has a market cap of $5.35 billion, a PE ratio of -85.64 and a beta of 1.26. Wix.com has a one year low of $59.79 and a one year high of $102.82. The stock has a fifty day moving average of $81.37 and a 200 day moving average of $85.43.

Wix.com (NASDAQ:WIX – Get Free Report) last posted its quarterly earnings data on Thursday, August 3rd. The information services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.72. The firm had revenue of $390.00 million for the quarter, compared to analysts’ expectations of $384.55 million. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.94) EPS. As a group, sell-side analysts predict that Wix.com will post -1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Wix.com by 2.9% during the first quarter. BlackRock Inc. now owns 3,800,140 shares of the information services provider’s stock valued at $379,254,000 after buying an additional 106,217 shares during the last quarter. Eminence Capital LP boosted its stake in Wix.com by 47.9% during the fourth quarter. Eminence Capital LP now owns 946,499 shares of the information services provider’s stock valued at $72,720,000 after buying an additional 306,740 shares during the last quarter. Wellington Management Group LLP boosted its stake in Wix.com by 37.8% during the first quarter. Wellington Management Group LLP now owns 922,606 shares of the information services provider’s stock valued at $92,076,000 after buying an additional 253,091 shares during the last quarter. Millennium Management LLC boosted its stake in Wix.com by 139.8% during the fourth quarter. Millennium Management LLC now owns 895,821 shares of the information services provider’s stock valued at $68,826,000 after buying an additional 522,264 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Wix.com by 13,352.3% during the first quarter. Acadian Asset Management LLC now owns 860,008 shares of the information services provider’s stock valued at $85,798,000 after buying an additional 853,615 shares during the last quarter. 83.19% of the stock is owned by institutional investors.

Wix.com Company Profile

(Get Free Report)

Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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