Wix.com (NASDAQ:WIX) Price Target Cut to $189.00 by Analysts at JPMorgan Chase & Co.

Wix.com (NASDAQ:WIX) had its price target lowered by analysts at JPMorgan Chase & Co. from $205.00 to $189.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the information services provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 13.50% from the company’s previous close.

A number of other brokerages have also issued reports on WIX. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research report on Thursday, November 21st. B. Riley raised their price objective on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Barclays boosted their target price on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Benchmark upped their price target on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Jefferies Financial Group raised their target price on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $239.33.

Wix.com Stock Down 4.1 %

Shares of WIX stock traded down $9.28 on Wednesday, hitting $218.50. The company had a trading volume of 1,502,329 shares, compared to its average volume of 787,800. Wix.com has a twelve month low of $117.58 and a twelve month high of $247.11. The firm has a market cap of $11.98 billion, a P/E ratio of 137.03, a price-to-earnings-growth ratio of 2.49 and a beta of 1.58. The company has a 50-day moving average price of $226.72 and a 200-day moving average price of $192.17.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, February 19th. The information services provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.61 by ($0.69). Wix.com had a negative return on equity of 52.68% and a net margin of 5.47%. Equities research analysts expect that Wix.com will post 2.11 EPS for the current year.

Hedge Funds Weigh In On Wix.com

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after buying an additional 49,500 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Wix.com by 60.8% during the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after acquiring an additional 11,497 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Wix.com in the fourth quarter valued at approximately $256,000. Cumberland Partners Ltd increased its stake in shares of Wix.com by 18.8% during the third quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock worth $3,176,000 after purchasing an additional 3,000 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new stake in Wix.com during the 3rd quarter worth approximately $461,000. 81.52% of the stock is owned by institutional investors.

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.