Wix.com Ltd. (NASDAQ:WIX) Receives Consensus Rating of “Buy” from Brokerages
Shares of Wix.com Ltd. (NASDAQ:WIX) have been given a consensus rating of “Buy” by the twelve research firms that are covering the firm. Two equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $39.56.
A number of research firms recently commented on WIX. Deutsche Bank AG lifted their target price on shares of Wix.com from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, July 28th. Oppenheimer Holdings Inc. lifted their target price on shares of Wix.com from $37.00 to $44.00 and gave the stock an “outperform” rating in a research note on Thursday, July 28th. Zacks Investment Research cut shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Wix.com in a research note on Thursday, June 9th. Finally, RBC Capital Markets lifted their target price on shares of Wix.com from $35.00 to $45.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 27th.
Wix.com (NASDAQ:WIX) traded down 2.86% during trading on Wednesday, reaching $44.14. 469,594 shares of the company traded hands. Wix.com has a 52 week low of $14.79 and a 52 week high of $49.49. The company’s market capitalization is $1.82 billion. The firm has a 50-day moving average price of $40.30 and a 200-day moving average price of $29.56.
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Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.03. The company earned $68.70 million during the quarter, compared to analysts’ expectations of $66.69 million. Wix.com had a negative net margin of 22.58% and a negative return on equity of 1,997.56%. Wix.com’s revenue for the quarter was up 41.4% on a year-over-year basis. During the same period last year, the business earned ($0.21) EPS. Analysts forecast that Wix.com will post ($0.47) earnings per share for the current fiscal year.
Institutional investors have recently bought and sold shares of the stock. Public Employees Retirement Association of Colorado purchased a new position in Wix.com during the second quarter valued at about $131,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Wix.com by 54.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,714 shares of the company’s stock valued at $173,000 after buying an additional 2,012 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in shares of Wix.com during the first quarter valued at approximately $289,000. Marshall Wace LLP bought a new stake in shares of Wix.com during the second quarter valued at approximately $339,000. Finally, Suntrust Banks Inc. raised its stake in shares of Wix.com by 2.0% in the second quarter. Suntrust Banks Inc. now owns 11,263 shares of the company’s stock valued at $341,000 after buying an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 65.11% of the company’s stock.
Wix.com Company Profile
Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.
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