Wix.com (NASDAQ:WIX) Given New $155.00 Price Target at Barclays

Wix.com (NASDAQ:WIX) had its price objective reduced by research analysts at Barclays from $160.00 to $155.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the information services provider’s stock. Barclays‘s target price indicates a potential upside of 114.18% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lowered their price objective on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $130.00 price objective on shares of Wix.com in a research note on Thursday, March 5th. Robert W. Baird downgraded shares of Wix.com from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $115.00 to $90.00 in a research report on Monday, March 9th. JPMorgan Chase & Co. cut shares of Wix.com from a “neutral” rating to an “underweight” rating and cut their price objective for the company from $114.00 to $91.00 in a report on Friday, March 27th. Finally, Weiss Ratings cut shares of Wix.com from a “hold (c-)” rating to a “sell (d)” rating in a report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.45.

Wix.com Stock Down 2.7%

Shares of WIX opened at $72.37 on Thursday. The company has a market cap of $4.22 billion, a price-to-earnings ratio of 89.03, a price-to-earnings-growth ratio of 2.82 and a beta of 1.26. Wix.com has a twelve month low of $60.22 and a twelve month high of $191.24. The company has a 50 day moving average of $80.65 and a two-hundred day moving average of $105.18.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, March 4th. The information services provider reported $1.81 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The company had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. During the same period last year, the firm earned $2.10 earnings per share. Wix.com’s revenue was up 13.9% compared to the same quarter last year. On average, sell-side analysts expect that Wix.com will post 3.65 EPS for the current year.

Wix.com announced that its Board of Directors has approved a share buyback plan on Wednesday, January 28th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the information services provider to repurchase up to 40.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Wix.com

Several hedge funds and other institutional investors have recently made changes to their positions in WIX. Westside Investment Management Inc. raised its position in Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after acquiring an additional 77 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Wix.com by 7.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock worth $172,000 after acquiring an additional 120 shares during the last quarter. Farther Finance Advisors LLC raised its position in Wix.com by 122.2% during the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after acquiring an additional 132 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its position in Wix.com by 2.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock worth $693,000 after acquiring an additional 142 shares during the last quarter. Finally, TD Private Client Wealth LLC raised its position in Wix.com by 18.7% during the fourth quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider’s stock worth $98,000 after acquiring an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.