Wix.Com (NASDAQ:WIX)‘s stock had its “buy” rating reissued by investment analysts at SunTrust Banks in a research report issued on Tuesday. They currently have a $71.00 price target on the information services provider’s stock. SunTrust Banks’ target price would indicate a potential upside of 8.31% from the company’s previous close.
The analysts wrote, “We maintain our Buy rating and $71 PT on WIX. We expect WIX to report 4Q results in line with Street estimates when it reports on Wed. 2/14 (pre- open). As in recent quarters, we expect strong top-line growth, driven by robust user growth and higher ARPU. Management’s 2018 outlook along with its commentary on new product introductions/enhancements, and underlying business metrics (conversions, collections growth, marketing ROI, etc.) will be key to the stock post-print, in our view. We’ve lowered our 2018 EBITDA modestly to reflect costs for the Super Bowl ad.””
WIX has been the topic of several other reports. KeyCorp reiterated an “overweight” rating on shares of Wix.Com in a research note on Wednesday, November 8th. Royal Bank of Canada reiterated a “hold” rating and issued a $80.00 price target on shares of Wix.Com in a research note on Wednesday, November 8th. Raymond James Financial upgraded shares of Wix.Com from a “market perform” rating to a “strong-buy” rating and set a $74.00 price target on the stock in a research note on Thursday, January 4th. Zacks Investment Research upgraded shares of Wix.Com from a “sell” rating to a “hold” rating in a research note on Saturday, January 13th. Finally, BidaskClub upgraded shares of Wix.Com from a “strong sell” rating to a “sell” rating in a research note on Friday, December 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $77.07.
A number of institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY lifted its holdings in Wix.Com by 91.3% in the third quarter. Bamco Inc. NY now owns 1,500,095 shares of the information services provider’s stock valued at $107,782,000 after acquiring an additional 715,951 shares during the period. Jackson Square Partners LLC lifted its holdings in Wix.Com by 55.2% in the fourth quarter. Jackson Square Partners LLC now owns 1,322,809 shares of the information services provider’s stock valued at $76,127,000 after acquiring an additional 470,579 shares during the period. Menora Mivtachim Holdings LTD. lifted its holdings in Wix.Com by 146.1% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,050,796 shares of the information services provider’s stock valued at $75,500,000 after acquiring an additional 623,876 shares during the period. Victory Capital Management Inc. lifted its holdings in Wix.Com by 2.2% in the fourth quarter. Victory Capital Management Inc. now owns 948,740 shares of the information services provider’s stock valued at $54,600,000 after acquiring an additional 20,510 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Wix.Com by 7.9% in the third quarter. Principal Financial Group Inc. now owns 683,144 shares of the information services provider’s stock valued at $49,084,000 after acquiring an additional 49,981 shares during the period. 79.05% of the stock is owned by institutional investors.
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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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