SunTrust Banks Increases Wix.Com (NASDAQ:WIX) Price Target to $290.00

Wix.Com (NASDAQ:WIX) had its price target lifted by analysts at SunTrust Banks from $215.00 to $290.00 in a report released on Monday, Marketbeat.com reports. The firm currently has a “buy” rating on the information services provider’s stock. SunTrust Banks’ price target would indicate a potential upside of 13.18% from the stock’s current price. SunTrust Banks also issued estimates for Wix.Com’s FY2024 earnings at $2.66 EPS.

Several other analysts have also recently commented on the stock. BidaskClub raised shares of Wix.Com from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. Raymond James raised shares of Wix.Com from a “market perform” rating to an “outperform” rating and set a $222.00 target price for the company in a research note on Friday, May 15th. Northland Securities lifted their target price on shares of Wix.Com from $160.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, May 15th. Rosenblatt Securities lifted their price target on shares of Wix.Com from $102.00 to $148.00 and gave the company a “neutral” rating in a report on Friday, May 15th. Finally, Royal Bank of Canada lifted their price target on shares of Wix.Com from $143.00 to $195.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $212.18.

Shares of WIX opened at $256.22 on Monday. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a 50 day simple moving average of $217.97 and a 200-day simple moving average of $150.39. Wix.Com has a 1-year low of $76.81 and a 1-year high of $256.87. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of -138.50 and a beta of 1.87.

Wix.Com (NASDAQ:WIX) last released its earnings results on Thursday, May 14th. The information services provider reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.64) by $0.63. The firm had revenue of $215.99 million during the quarter, compared to analysts’ expectations of $215.80 million. Wix.Com had a negative net margin of 11.81% and a negative return on equity of 29.30%. On average, equities analysts expect that Wix.Com will post -1.65 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of WIX. Truewealth LLC acquired a new position in shares of Wix.Com during the 1st quarter valued at $34,000. Allred Capital Management LLC lifted its holdings in shares of Wix.Com by 41.4% during the 1st quarter. Allred Capital Management LLC now owns 352 shares of the information services provider’s stock valued at $35,000 after acquiring an additional 103 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Wix.Com by 652.3% during the 4th quarter. Acadian Asset Management LLC now owns 331 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 287 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Wix.Com by 212.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 412 shares of the information services provider’s stock valued at $50,000 after acquiring an additional 280 shares in the last quarter. Finally, Pinz Capital Management LP acquired a new position in Wix.Com in the 1st quarter worth $50,000. Institutional investors and hedge funds own 91.44% of the company’s stock.

About Wix.Com

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

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Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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