Wix.com (NASDAQ:WIX – Free Report) had its price target upped by Cantor Fitzgerald from $80.00 to $90.00 in a research note released on Monday, MarketBeat.com reports. Cantor Fitzgerald currently has an overweight rating on the information services provider’s stock.
A number of other research firms also recently commented on WIX. Morgan Stanley downgraded Wix.com from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $112.00 to $60.00 in a report on Tuesday, July 21st. Raymond James Financial downgraded 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 research note on Thursday, July 30th. Wall Street Zen lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Sunday, October 4th. Wells Fargo & Company boosted their price objective 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, Benchmark reaffirmed a “buy” rating on shares of Wix.com in a research report on Wednesday, August 26th. Eleven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.76.
View Our Latest Research Report on Wix.com
Wix.com Trading Down 0.4%
Shares of WIX opened at $78.74 on Monday. Wix.com has a fifty-two week low of $40.16 and a fifty-two week high of $148.33. The company’s fifty day moving average is $78.15 and its two-hundred day moving average is $65.43.
Wix.com (NASDAQ:WIX – Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $552.56 million. During the same period in the prior year, the firm posted $2.28 EPS. The business’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, equities analysts forecast that Wix.com will post 0.24 EPS for the current fiscal year.
Insider Buying and Selling at Wix.com
In related news, CEO Avishai Abrahami acquired 654 shares of Wix.com stock in a transaction on Monday, August 31st. The shares were purchased at an average cost of $59.89 per share, for a total transaction of $39,168.06. Following the purchase, the chief executive officer directly owned 486,225 shares of the company’s stock, valued at $29,120,015.25. The trade was a 0.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shelly B. Meyer sold 479 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $95.00, for a total transaction of $45,505.00. Following the transaction, the insider owned 183,010 shares in the company, valued at $17,385,950. This trade represents a 0.26% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have acquired 2,622 shares of company stock valued at $157,032. Corporate insiders own 6.20% of the company’s stock.
Institutional Investors Weigh In On Wix.com
Several hedge funds and other institutional investors have recently modified their holdings of WIX. Senvest Management LLC raised its stake in shares of Wix.com by 24.8% in the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after purchasing an additional 746,200 shares in the last quarter. Hsbc Holdings PLC increased its holdings in Wix.com by 11,894.0% in 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 buying an additional 3,500,047 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Wix.com by 57.5% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after buying an additional 578,729 shares in the last quarter. SG Americas Securities LLC raised its stake in Wix.com by 1.9% during the first quarter. SG Americas Securities LLC now owns 970,500 shares of the information services provider’s stock valued at $87,413,000 after buying an additional 17,697 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its holdings in Wix.com by 7,102.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after buying an additional 685,614 shares during the last quarter. 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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