Wix.Com (WIX) Earns Sell Rating from Rosenblatt Securities

Wix.Com (NASDAQ:WIX)‘s stock had its “sell” rating restated by investment analysts at Rosenblatt Securities in a research note issued to investors on Friday, AnalystRatings.com reports. They presently have a $73.00 target price on the information services provider’s stock. Rosenblatt Securities’ price objective indicates a potential downside of 47.57% from the company’s current price.

Several other analysts have also recently weighed in on WIX. Zacks Investment Research raised Wix.Com from a “hold” rating to a “strong-buy” rating and set a $114.00 price objective on the stock in a research report on Saturday, January 19th. ValuEngine raised Wix.Com from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. Raymond James cut Wix.Com from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 20th. Royal Bank of Canada lifted their price objective on Wix.Com to $120.00 and gave the company a “positive” rating in a research report on Thursday, February 21st. Finally, KeyCorp lifted their price objective on Wix.Com from $122.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $123.88.

NASDAQ:WIX traded up $4.38 during mid-day trading on Friday, reaching $139.24. 1,004,026 shares of the company’s stock traded hands, compared to its average volume of 729,568. Wix.Com has a 12-month low of $80.20 and a 12-month high of $143.82. The company has a market cap of $7.08 billion, a PE ratio of -316.45 and a beta of 1.70. The company has a debt-to-equity ratio of 2.23, a current ratio of 2.15 and a quick ratio of 2.15.

Wix.Com (NASDAQ:WIX) last announced its quarterly earnings results on Thursday, May 16th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.30. Wix.Com had a negative return on equity of 21.72% and a negative net margin of 6.15%. The company had revenue of $174.29 million for the quarter, compared to the consensus estimate of $172.98 million. During the same quarter in the previous year, the business earned ($0.06) EPS. Wix.Com’s revenue was up 26.5% compared to the same quarter last year. Analysts expect that Wix.Com will post -0.49 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of WIX. Principal Financial Group Inc. boosted its position in shares of Wix.Com by 68.5% in the 4th quarter. Principal Financial Group Inc. now owns 2,513,121 shares of the information services provider’s stock worth $227,035,000 after purchasing an additional 1,021,273 shares in the last quarter. Jackson Square Partners LLC boosted its position in shares of Wix.Com by 78.3% in the 1st quarter. Jackson Square Partners LLC now owns 1,629,418 shares of the information services provider’s stock worth $196,882,000 after purchasing an additional 715,411 shares in the last quarter. FMR LLC boosted its position in shares of Wix.Com by 18.1% in the 1st quarter. FMR LLC now owns 4,382,658 shares of the information services provider’s stock worth $529,556,000 after purchasing an additional 671,358 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Wix.Com by 23,791.1% in the 1st quarter. Janus Henderson Group PLC now owns 634,308 shares of the information services provider’s stock worth $76,644,000 after purchasing an additional 631,653 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Wix.Com by 42.3% in the 4th quarter. BlackRock Inc. now owns 2,105,745 shares of the information services provider’s stock worth $190,234,000 after purchasing an additional 626,291 shares in the last quarter. 83.99% of the stock is currently owned by hedge funds and other institutional investors.

Wix.Com Company Profile

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

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Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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