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

Cantor Fitzgerald reiterated their overweight rating on shares of Wix.com (NASDAQ:WIX) in a report issued on Monday, Benzinga reports. Cantor Fitzgerald currently has a $200.00 price target on the information services provider’s stock.

WIX has been the subject of a number of other research reports. UBS Group boosted their price objective on Wix.com from $200.00 to $205.00 and gave the company a buy rating in a research note on Thursday, August 8th. Evercore ISI raised Wix.com to a strong-buy rating in a report on Monday, August 5th. Bank of America lifted their target price on shares of Wix.com from $153.00 to $183.00 and gave the company a buy rating in a report on Thursday, June 6th. Piper Sandler raised shares of Wix.com from a neutral rating to an overweight rating and increased their price target for the stock from $184.00 to $200.00 in a report on Monday. Finally, JMP Securities reissued a market outperform rating and issued a $180.00 target price on shares of Wix.com in a report on Thursday, July 25th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wix.com has a consensus rating of Moderate Buy and a consensus price target of $190.19.

Wix.com Stock Performance

NASDAQ:WIX opened at $163.87 on Monday. Wix.com has a 1 year low of $76.90 and a 1 year high of $178.65. The stock has a market cap of $9.37 billion, a P/E ratio of 143.75, a P/E/G ratio of 3.47 and a beta of 1.47. The stock has a 50-day simple moving average of $160.45 and a 200-day simple moving average of $150.52.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. Wix.com’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.58 earnings per share. On average, equities research analysts predict that Wix.com will post 2.01 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in WIX. Norges Bank purchased a new stake in shares of Wix.com during the fourth quarter worth about $34,554,000. Dorsal Capital Management LP grew its stake in Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after acquiring an additional 250,000 shares during the period. Renaissance Technologies LLC raised its holdings in Wix.com by 27.9% in the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after acquiring an additional 171,500 shares during the last quarter. Capital Fund Management S.A. lifted its stake in shares of Wix.com by 1,378.7% during the 4th quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock worth $19,739,000 after purchasing an additional 149,605 shares during the period. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Wix.com by 328.5% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock worth $22,144,000 after purchasing an additional 137,991 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.