Wix.Com (WIX) Price Target Raised to $103.00 at KeyCorp

Wix.Com (NASDAQ:WIX) had its price objective increased by investment analysts at KeyCorp from $85.00 to $103.00 in a report issued on Sunday. The brokerage presently has an “overweight” rating on the information services provider’s stock. KeyCorp’s price target points to a potential upside of 20.54% from the stock’s current price. KeyCorp also issued estimates for Wix.Com’s FY2019 earnings at $0.18 EPS.

WIX has been the subject of several other research reports. SunTrust Banks reiterated a “buy” rating and set a $71.00 price target on shares of Wix.Com in a research report on Tuesday, February 13th. BidaskClub cut shares of Wix.Com from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Wix.Com from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Oppenheimer lifted their price target on shares of Wix.Com from $70.00 to $82.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $78.00 price target (down previously from $80.00) on shares of Wix.Com in a research report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and three have given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $81.80.

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Shares of WIX stock traded up $2.15 during trading hours on Friday, hitting $85.45. 245,181 shares of the stock traded hands, compared to its average volume of 657,133. Wix.Com has a 12 month low of $50.90 and a 12 month high of $86.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.88. The firm has a market cap of $3,829.71, a PE ratio of -69.07 and a beta of 1.81.

Wix.Com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, February 14th. The information services provider reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.05. Wix.Com had a negative net margin of 13.22% and a negative return on equity of 1,376.12%. The company had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $116.86 million. During the same quarter in the previous year, the company earned $0.06 EPS. Wix.Com’s revenue was up 40.9% on a year-over-year basis. sell-side analysts anticipate that Wix.Com will post -0.54 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC acquired a new position in shares of Wix.Com in the fourth quarter valued at approximately $215,000. Parametrica Management Ltd acquired a new position in shares of Wix.Com in the fourth quarter valued at approximately $246,000. Koch Industries Inc. acquired a new position in shares of Wix.Com in the fourth quarter valued at approximately $343,000. SG Americas Securities LLC boosted its holdings in shares of Wix.Com by 14.8% in the fourth quarter. SG Americas Securities LLC now owns 6,661 shares of the information services provider’s stock valued at $383,000 after buying an additional 859 shares during the period. Finally, Legal & General Group Plc boosted its holdings in shares of Wix.Com by 51.4% in the third quarter. Legal & General Group Plc now owns 5,600 shares of the information services provider’s stock valued at $402,000 after buying an additional 1,900 shares during the period. Hedge funds and other institutional investors own 82.32% of the company’s stock.

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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.

Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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