Wix.com Ltd. (NASDAQ:WIX – Get Free Report) has earned an average rating of “Hold” from the twenty-three brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $91.76.
A number of equities research analysts have recently issued reports on WIX shares. Cantor Fitzgerald boosted their target price on Wix.com from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday. Needham & Company LLC increased their price target on Wix.com from $80.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Benchmark reiterated a “buy” rating on shares of Wix.com in a research report on Wednesday, August 26th. Wells Fargo & Company lifted their price target on Wix.com from $46.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Finally, Raymond James Financial downgraded Wix.com from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $75.00 to $70.00 in a report on Thursday, July 30th.
Read Our Latest Stock Analysis on Wix.com
Wix.com Stock Performance
NASDAQ WIX opened at $76.98 on Tuesday. The stock has a market capitalization of $4.49 billion, a P/E ratio of -21.75, a P/E/G ratio of 35.65 and a beta of 1.01. Wix.com has a 1 year low of $40.16 and a 1 year high of $148.33. The business’s fifty day moving average is $77.70 and its two-hundred day moving average is $65.54.
Wix.com (NASDAQ:WIX – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.26. The company had revenue of $563.06 million during the quarter, compared to the consensus estimate of $552.56 million. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.28 EPS. On average, research analysts forecast that Wix.com will post 0.24 earnings per share for the current year.
Insider Buying and Selling
In other Wix.com news, Director Ron Gutler sold 5,718 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.42, for a total value of $488,431.56. Following the completion of the transaction, 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 filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Lior Shemesh bought 456 shares of the company’s stock in a transaction dated Monday, August 31st. The stock was purchased at an average cost of $59.89 per share, for a total transaction of $27,309.84. Following the completion of the transaction, the chief financial officer owned 221,567 shares of the company’s stock, valued at $13,269,647.63. This represents a 0.21% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 2,622 shares of company stock valued at $157,032. Company insiders own 6.20% of the company’s stock.
Institutional Investors Weigh In On Wix.com
Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC boosted its stake in Wix.com by 74.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 416 shares of the information services provider’s stock worth $30,000 after purchasing an additional 177 shares during the period. Versant Capital Management Inc raised its stake in Wix.com by 537.6% during the 3rd quarter. Versant Capital Management Inc now owns 542 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 457 shares during the period. State of Alaska Department of Revenue acquired a new stake in Wix.com during the 3rd quarter valued at $173,000. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Wix.com in the first quarter valued at $210,000. Finally, Arkadios Wealth Advisors purchased a new stake in shares of Wix.com in the first quarter valued at $249,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.
Wix.com Company Profile
Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.
Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.
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