Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus recommendation of “Buy” from the twelve research firms that are currently covering the stock. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $40.10.
Several research firms have recently issued reports on WIX. 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. Oppenheimer Holdings Inc. upped their price target on 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 downgraded Wix.com from a “buy” rating to a “hold” rating in a research note on Saturday, July 30th. Needham & Company LLC restated a “buy” rating and set a $30.00 target price on shares of Wix.com in a research note on Thursday, June 9th. Finally, RBC Capital Markets increased their target price on Wix.com from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th.
Shares of Wix.com (NASDAQ:WIX) opened at 43.28 on Wednesday. The stock has a 50 day moving average price of $41.04 and a 200-day moving average price of $29.94. The company’s market capitalization is $1.78 billion. Wix.com has a one year low of $14.79 and a one year high of $49.49.
Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.03. The company earned $68.70 million during the quarter, compared to the consensus estimate of $66.69 million. Wix.com had a negative return on equity of 1,997.56% and a negative net margin of 22.58%. The firm’s revenue was up 41.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.21) EPS. Equities research analysts predict that Wix.com will post ($0.47) earnings per share for the current fiscal year.
Hedge funds have recently made changes to their positions in the company. LMR Partners LLP purchased a new stake in shares of Wix.com during the second quarter worth approximately $442,000. Acadian Asset Management LLC bought a new position in Wix.com during the second quarter valued at approximately $1,500,000. Boothbay Fund Management LLC bought a new position in Wix.com during the first quarter valued at approximately $289,000. Renaissance Technologies LLC increased its position in Wix.com by 35.8% in the first quarter. Renaissance Technologies LLC now owns 883,800 shares of the company’s stock valued at $17,915,000 after buying an additional 232,800 shares during the period. Finally, Granahan Investment Management Inc. MA bought a new position in Wix.com during the first quarter valued at approximately $7,261,000. 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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