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

by · The Cerbat Gem

Cantor Fitzgerald restated their overweight rating on shares of Wix.com (NASDAQ:WIX – Free Report) in a report published on Monday morning, Benzinga reports. The firm currently has a $200.00 price objective on the information services provider’s stock.

Other research analysts have also issued research reports about the company. StockNews.com upgraded Wix.com from a hold rating to a buy rating in a research report on Thursday, August 15th. KeyCorp initiated coverage on shares of Wix.com in a report on Thursday, July 25th. They issued a sector weight rating for the company. Evercore ISI raised shares of Wix.com to a strong-buy rating in a research note on Monday, August 5th. Benchmark boosted their price target on shares of Wix.com from $210.00 to $225.00 and gave the stock a buy rating in a research report on Thursday, August 8th. Finally, UBS Group increased their price objective on shares of Wix.com from $200.00 to $205.00 and gave the company a buy rating in a report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $190.06.

Get Our Latest Stock Analysis on Wix.com

Wix.com Stock Up 1.9 %

Shares of NASDAQ:WIX opened at $161.18 on Monday. The company’s 50-day moving average price is $160.90 and its 200 day moving average price is $152.41. The company has a market cap of $9.22 billion, a PE ratio of 141.39, a P/E/G ratio of 3.40 and a beta of 1.48. Wix.com has a fifty-two week low of $76.90 and a fifty-two week high of $178.65.

Wix.com (NASDAQ:WIX – Get Free Report) last released 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 company had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.58 earnings per share. As a group, equities analysts anticipate that Wix.com will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Wix.com

A number of hedge funds have recently added to or reduced their stakes in the company. Lakehouse Capital Pty Ltd lifted its stake in Wix.com by 26.2% in the third quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock valued at $10,148,000 after acquiring an additional 12,600 shares during the last quarter. CWM LLC raised its holdings in shares of Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 101 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Wix.com by 7.2% during the 3rd quarter. SG Americas Securities LLC now owns 71,668 shares of the information services provider’s stock valued at $11,981,000 after purchasing an additional 4,836 shares in the last quarter. Clearbridge Investments LLC lifted its stake in shares of Wix.com by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after purchasing an additional 33,338 shares during the last quarter. Finally, Creative Planning boosted its holdings in Wix.com by 56.6% in the second quarter. Creative Planning now owns 8,041 shares of the information services provider’s stock worth $1,279,000 after purchasing an additional 2,907 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

About Wix.com

(Get Free Report)

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.

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