Wix.Com (WIX) Price Target Increased to $75.00 by Analysts at Wedbush

Wix.Com (NASDAQ:WIX) had its price objective increased by Wedbush from $65.00 to $75.00 in a report issued on Thursday. The brokerage currently has a “neutral” rating on the information services provider’s stock. Wedbush’s price target suggests a potential downside of 0.79% from the company’s current price.

A number of other research analysts have also weighed in on WIX. SunTrust Banks reissued a “buy” rating and set a $73.00 target price on shares of Wix.Com in a report on Monday, November 6th. Royal Bank of Canada reissued a “hold” rating and set a $80.00 target price on shares of Wix.Com in a report on Wednesday, November 8th. KeyCorp reissued an “overweight” rating on shares of Wix.Com in a report on Wednesday, November 8th. Oppenheimer decreased their target price on Wix.Com from $88.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, November 9th. Finally, Barclays decreased their target price on Wix.Com from $77.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $79.93.

Wix.Com (WIX) traded up $1.00 during mid-day trading on Thursday, hitting $75.60. The company had a trading volume of 952,604 shares, compared to its average volume of 691,212. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $3,440.00, a price-to-earnings ratio of -59.53 and a beta of 2.15. Wix.Com has a 1-year low of $50.90 and a 1-year high of $86.15.

Wix.Com (NASDAQ:WIX) last posted its earnings results on Wednesday, February 14th. The information services provider reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.05. The business had revenue of $118.60 million for the quarter, compared to analyst estimates of $116.86 million. Wix.Com had a negative return on equity of 4,837.72% and a negative net margin of 13.22%. The firm’s revenue was up 40.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 EPS. research analysts predict that Wix.Com will post -0.63 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in Wix.Com by 14.8% in the 4th 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 in the last quarter. Bank of New York Mellon Corp grew its holdings in Wix.Com by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 21,816 shares of the information services provider’s stock valued at $1,255,000 after buying an additional 863 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Wix.Com by 16.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,705 shares of the information services provider’s stock valued at $615,000 after buying an additional 1,234 shares in the last quarter. California Public Employees Retirement System grew its holdings in Wix.Com by 9.6% in the 4th quarter. California Public Employees Retirement System now owns 17,100 shares of the information services provider’s stock valued at $984,000 after buying an additional 1,500 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in Wix.Com by 51.4% in the 3rd 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 in the last quarter. 79.05% of the stock is currently owned by hedge funds and other institutional investors.

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About Wix.Com

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.

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