JPMorgan Chase & Co. downgraded shares of Wix.com Ltd. (NASDAQ:WIX) from an overweight rating to a neutral rating in a report issued on Wednesday morning. JPMorgan Chase & Co. currently has $50.00 target price on the stock, up from their prior target price of $46.00.
Several other equities research analysts have also issued reports on WIX. Royal Bank Of Canada reissued a buy rating on shares of Wix.com in a report on Friday, June 10th. Needham & Company LLC reissued a buy rating on shares of Wix.com in a report on Monday, June 27th. Oppenheimer Holdings Inc. upped their price target on Wix.com from $32.00 to $37.00 and gave the stock an outperform rating in a research note on Thursday, June 9th. Stephens started coverage on Wix.com in a research note on Tuesday, August 2nd. They issued an overweight rating for the company. Finally, Deutsche Bank AG upped their price target on Wix.com from $33.00 to $40.00 and gave the stock a buy rating in a research note on Thursday, July 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $40.09.
Wix.com (NASDAQ:WIX) opened at 43.28 on Wednesday. The firm’s 50 day moving average is $41.04 and its 200 day moving average is $29.94. The stock’s market capitalization is $1.78 billion. Wix.com has a 1-year low of $14.79 and a 1-year high of $49.49.
Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.03. Wix.com had a negative net margin of 22.58% and a negative return on equity of 1,997.56%. The firm earned $68.70 million during the quarter, compared to analyst estimates of $66.69 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The business’s revenue for the quarter was up 41.4% compared to the same quarter last year. On average, equities research analysts anticipate that Wix.com will post ($0.47) earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Institutional Trust Company N.A. increased its stake in shares of Wix.com by 2.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 219,072 shares of the company’s stock worth $4,441,000 after buying an additional 4,479 shares in the last quarter. Societe Generale bought a new stake in shares of Wix.com during the second quarter worth about $943,000. Boothbay Fund Management LLC bought a new stake in shares of Wix.com during the first quarter worth about $289,000. SG Americas Securities LLC bought a new stake in shares of Wix.com during the second quarter worth about $943,000. Finally, Granahan Investment Management Inc. MA bought a new stake in shares of Wix.com during the first quarter worth about $7,261,000. Hedge funds and other institutional investors own 65.11% of the company’s stock.
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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