Wix.com Ltd. (NASDAQ:WIX – Get Free Report) has earned a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, eleven have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $96.75.
A number of brokerages recently issued reports on WIX. Wells Fargo & Company decreased their target price on shares of Wix.com from $54.00 to $47.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 9th. Cantor Fitzgerald reduced their price target on shares of Wix.com from $110.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Bank of America reduced their price target on shares of Wix.com from $136.00 to $109.00 and set a “buy” rating for the company in a research note on Tuesday, April 21st. Benchmark reiterated a “buy” rating on shares of Wix.com in a report on Tuesday, June 9th. Finally, Barclays lowered their price objective on shares of Wix.com from $155.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th.
Check Out Our Latest Stock Analysis on WIX
Wix.com Stock Up 1.8%
Wix.com (NASDAQ:WIX – Get Free Report) last released its quarterly earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). The business had revenue of $541.17 million for the quarter, compared to the consensus estimate of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The business’s quarterly revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $1.69 EPS. On average, research analysts forecast that Wix.com will post -0.17 EPS for the current fiscal year.
Institutional Investors Weigh In On Wix.com
A number of institutional investors and hedge funds have recently modified their holdings of WIX. Hsbc Holdings PLC lifted its holdings in shares of Wix.com by 11,894.0% during the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after purchasing an additional 3,500,047 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Wix.com by 128.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock worth $823,813,000 after buying an additional 2,606,204 shares during the period. Wellington Management Group LLP raised its holdings in Wix.com by 90.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after buying an additional 1,609,989 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in Wix.com during the fourth quarter valued at about $150,622,000. Finally, Atreides Management LP purchased a new stake in Wix.com during the fourth quarter valued at about $129,598,000. Institutional investors and hedge funds own 81.52% of the company’s stock.
About Wix.com
Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.
Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.
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