Cantor Fitzgerald Reaffirms “Overweight” Rating for Wix.com (NASDAQ:WIX)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Wix.com (NASDAQ:WIX) in a research note issued to investors on Monday, Benzinga reports. Cantor Fitzgerald currently has a $200.00 price objective on the information services provider’s stock.

Several other research firms have also recently commented on WIX. Needham & Company LLC reaffirmed a buy rating and set a $190.00 target price on shares of Wix.com in a research note on Wednesday, August 7th. StockNews.com raised shares of Wix.com from a hold rating to a buy rating in a research report on Thursday, August 15th. JMP Securities reiterated a market outperform rating and issued a $180.00 price objective on shares of Wix.com in a research note on Thursday, July 25th. Piper Sandler raised shares of Wix.com from a neutral rating to an overweight rating and increased their target price for the stock from $184.00 to $200.00 in a research note on Monday, September 23rd. Finally, Barclays raised their price target on shares of Wix.com from $184.00 to $186.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wix.com presently has a consensus rating of Moderate Buy and a consensus target price of $190.19.

Wix.com Trading Down 0.7 %

NASDAQ WIX opened at $167.17 on Monday. The business’s 50-day moving average price is $160.82 and its two-hundred day moving average price is $151.31. Wix.com has a 12 month low of $76.90 and a 12 month high of $178.65. The firm has a market capitalization of $9.56 billion, a PE ratio of 146.64, a price-to-earnings-growth ratio of 3.58 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. During the same quarter in the previous year, the business earned $0.58 earnings per share. Wix.com’s revenue for the quarter was up 11.7% on a year-over-year basis. As a group, analysts forecast that Wix.com will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Northwest Bank & Trust Co bought a new stake in shares of Wix.com in the 4th quarter worth $26,000. Fidelis Capital Partners LLC bought a new stake in Wix.com in the 1st quarter worth about $37,000. Industrial Alliance Investment Management Inc. increased its stake in Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after buying an additional 488 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares in the last quarter. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Wix.com during the 1st quarter worth approximately $214,000. 81.52% of the stock is owned by institutional investors.

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.