Wix.com (NASDAQ:WIX – Get Rating)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday. They currently have a $85.00 price target on the information services provider’s stock. Needham & Company LLC’s objective price would suggest a potential upside of 29.44% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Jefferies Financial Group cut their target price on shares of Wix.com from $115.00 to $100.00 in a research note on Tuesday, May 31st. Piper Sandler downgraded shares of Wix.com from a “neutral” rating to an “underweight” rating and cut their target price for the company from $105.00 to $78.00 in a research note on Monday, April 25th. StockNews.com lowered shares of Wix.com from a “hold” rating to a “sell” rating in a report on Thursday, June 16th. Royal Bank of Canada lowered their price target on shares of Wix.com from $85.00 to $75.00 in a report on Tuesday, May 17th. Finally, Benchmark assumed coverage on shares of Wix.com in a report on Wednesday, April 13th. They set a “hold” rating for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $142.61.
NASDAQ WIX traded down $0.13 during mid-day trading on Wednesday, reaching $65.67. 27,738 shares of the stock were exchanged, compared to its average volume of 1,282,911. Wix.com has a 1-year low of $53.12 and a 1-year high of $309.00. The business’s fifty day simple moving average is $67.33 and its 200 day simple moving average is $97.81. The stock has a market capitalization of $3.76 billion, a PE ratio of -13.06 and a beta of 1.57. The company has a debt-to-equity ratio of 6.33, a quick ratio of 1.58 and a current ratio of 1.58.
Wix.com (NASDAQ:WIX – Get Rating) last posted its quarterly earnings results on Monday, May 16th. The information services provider reported ($1.61) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.75) by $0.14. The company had revenue of $341.60 million for the quarter, compared to the consensus estimate of $340.47 million. Wix.com had a negative net margin of 21.70% and a negative return on equity of 136.41%. Wix.com’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm posted ($1.36) earnings per share. On average, analysts anticipate that Wix.com will post -5.47 EPS for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. LPL Financial LLC increased its position in shares of Wix.com by 1.0% in the third quarter. LPL Financial LLC now owns 8,233 shares of the information services provider’s stock worth $1,613,000 after acquiring an additional 78 shares in the last quarter. MML Investors Services LLC increased its position in shares of Wix.com by 4.4% in the third quarter. MML Investors Services LLC now owns 1,916 shares of the information services provider’s stock worth $375,000 after acquiring an additional 80 shares in the last quarter. M&T Bank Corp increased its position in shares of Wix.com by 8.6% in the fourth quarter. M&T Bank Corp now owns 1,351 shares of the information services provider’s stock worth $212,000 after acquiring an additional 107 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in shares of Wix.com by 2.0% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 6,029 shares of the information services provider’s stock worth $951,000 after acquiring an additional 118 shares in the last quarter. Finally, Parallel Advisors LLC increased its position in shares of Wix.com by 73.3% in the fourth quarter. Parallel Advisors LLC now owns 298 shares of the information services provider’s stock worth $47,000 after acquiring an additional 126 shares in the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.
About Wix.com (Get Rating)
Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications.
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