JMP Securities Boosts Wix.com (NASDAQ:WIX) Price Target to $210.00

Wix.com (NASDAQ:WIX) had its price objective increased by stock analysts at JMP Securities from $200.00 to $210.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “market outperform” rating on the information services provider’s stock. JMP Securities’ target price would indicate a potential upside of 13.98% from the company’s current price.

Several other equities analysts have also recently weighed in on the stock. Zacks Research raised shares of Wix.com from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 20th. Royal Bank Of Canada restated an “outperform” rating and set a $210.00 price objective on shares of Wix.com in a research report on Tuesday, August 19th. UBS Group dropped their price target on Wix.com from $230.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Wednesday, June 18th. Finally, Barclays set a $235.00 target price on Wix.com and gave the company an “overweight” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $216.16.

Wix.com Stock Up 1.2%

Shares of Wix.com stock opened at $184.24 on Tuesday. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 3.50 and a beta of 1.30. The stock’s 50-day simple moving average is $145.46 and its 200-day simple moving average is $156.50. Wix.com has a 52 week low of $114.89 and a 52 week high of $247.11.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The company had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. During the same quarter last year, the company earned $1.67 EPS. The firm’s quarterly revenue was up 12.4% on a year-over-year basis. On average, equities analysts expect that Wix.com will post 3.65 earnings per share for the current year.

Wix.com announced that its board has initiated a stock buyback program on Monday, August 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to purchase up to 2.9% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Wix.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its stake in Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after buying an additional 66 shares during the period. Twin Tree Management LP purchased a new position in shares of Wix.com during the first quarter worth $29,000. Geneos Wealth Management Inc. grew its stake in shares of Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after buying an additional 215 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of Wix.com by 47.8% in the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock valued at $65,000 after buying an additional 132 shares during the period. Finally, TD Private Client Wealth LLC lifted its stake in Wix.com by 183.3% during the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider’s stock worth $78,000 after acquiring an additional 308 shares in 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.