Wix.Com Price Target Cut to $26.00 (WIX)
RBC Capital reduced their price target on shares of Wix.Com (NASDAQ:WIX) from $35.00 to $26.00 in a research note issued on Wednesday, Analyst Ratings Net reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price points to a potential upside of 54.39% from the stock’s previous close. The analysts noted that the move was a valuation call.
Wix.Com (NASDAQ:WIX) opened at 16.84 on Wednesday. Wix.Com has a 52-week low of $16.19 and a 52-week high of $32.69. The stock’s 50-day moving average is $20.74 and its 200-day moving average is $24.20. The company’s market cap is $631.8 million.
Wix.Com (NASDAQ:WIX) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.30) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.13 by $0.43. The company had revenue of $28.80 million for the quarter, compared to the consensus estimate of $26.92 million. Analysts expect that Wix.Com will post $-1.09 EPS for the current fiscal year.
Wix.com Ltd. is a global Web development platform. The Company offers its solutions through a freemium and subscription model and as of August 31, 2013, it had 679,536 premium subscriptions.
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