Wix.com (NASDAQ:WIX – Get Free Report) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.
A number of other analysts have also weighed in on the company. Morgan Stanley lowered Wix.com from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $112.00 to $60.00 in a research note on Tuesday, July 21st. Raymond James Financial lowered shares of Wix.com from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $75.00 to $70.00 in a report on Thursday, July 30th. Royal Bank Of Canada boosted their target price on shares of Wix.com from $45.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 5th. Weiss Ratings upgraded shares of Wix.com from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Finally, Scotiabank reissued an “outperform” rating on shares of Wix.com in a research note on Tuesday, June 9th. Eleven research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $91.29.
Check Out Our Latest Analysis on WIX
Wix.com Price Performance
Wix.com (NASDAQ:WIX – Get Free Report) last announced its earnings results on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.13 by $0.26. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%.The business had revenue of $563.06 million for the quarter, compared to the consensus estimate of $552.56 million. During the same period in the previous year, the business earned $2.28 EPS. Wix.com’s revenue was up 14.9% compared to the same quarter last year. As a group, research analysts expect that Wix.com will post 0.24 earnings per share for the current year.
Insider Transactions at Wix.com
In related news, Director Ron Gutler sold 5,718 shares of Wix.com stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.42, for a total value of $488,431.56. Following the completion of the sale, the director directly owned 15,631 shares in the company, valued at $1,335,200.02. This trade represents a 26.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lior Shemesh acquired 456 shares of the company’s stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $59.89 per share, with a total value of $27,309.84. Following the completion of the acquisition, the chief financial officer directly owned 221,567 shares in the company, valued at approximately $13,269,647.63. The trade was a 0.21% increase in their position. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders acquired 2,622 shares of company stock valued at $157,032. 6.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Wix.com
Several institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its stake in shares of Wix.com by 17.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,741 shares of the information services provider’s stock valued at $285,000 after acquiring an additional 410 shares during the last quarter. State of Wyoming increased its stake in Wix.com by 12.9% in the fourth quarter. State of Wyoming now owns 4,210 shares of the information services provider’s stock valued at $437,000 after purchasing an additional 480 shares in the last quarter. National Pension Service bought a new stake in Wix.com in the fourth quarter valued at approximately $58,000. USS Investment Management Ltd raised its holdings in Wix.com by 4.8% in the first quarter. USS Investment Management Ltd now owns 12,902 shares of the information services provider’s stock worth $1,162,000 after purchasing an additional 591 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in Wix.com by 77.5% in the fourth quarter. Global Retirement Partners LLC now owns 1,441 shares of the information services provider’s stock worth $150,000 after purchasing an additional 629 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.
About Wix.com
Wix.com Ltd. is an Israeli software company that operates a cloud-based website development platform. Its services enable individuals, entrepreneurs, small businesses and organizations to create, manage and grow websites without requiring extensive coding expertise.
The company offers customizable website templates and visual design tools, along with domain registration, web hosting, content management, search engine optimization and online marketing capabilities. Wix also provides tools for e-commerce, online payments, bookings, events, restaurants and other business operations, as well as professional development products through Wix Studio and third-party applications available through its app marketplace.
Founded in 2006 by Avishai Abrahami, Nadav Abrahami and Giora Kaplan, Wix is headquartered in Tel Aviv, Israel, and serves customers internationally.
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