Wix.Com Price Target Lowered to $27.00 at Oppenheimer (WIX)
Analysts at Oppenheimer reduced their target price on shares of Wix.Com (NASDAQ:WIX) from $35.00 to $27.00 in a research report issued to clients and investors on Wednesday, AnalystRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 60.33% from the stock’s previous close.
Shares of Wix.Com (NASDAQ:WIX) traded down 2.02% during mid-day trading on Wednesday, hitting $16.50. The stock had a trading volume of 150,827 shares. Wix.Com has a 52 week low of $16.19 and a 52 week high of $32.69. The stock has a 50-day moving average of $20.74 and a 200-day moving average of $24.20. The company’s market cap is $619.0 million.
Wix.Com (NASDAQ:WIX) last announced its earnings results on Tuesday, May 13th. The company reported ($0.30) EPS for the quarter, missing the Thomson Reuters 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 $-1.08 EPS for the current fiscal year.
Separately, analysts at RBC Capital cut their price target on shares of Wix.Com from $35.00 to $26.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $27.50.
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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