Benchmark equity research analysts initiated a hedge on the shares of Wix.com (NASDAQ:WIX – Get a review) in a research note released Wednesday to investors, reports The Fly. The company has placed a “hold” rating on the shares of the information services provider.
A number of other equity research analysts have also recently published reports on WIX. Wedbush reduced its price target on Wix.com from $200.00 to $162.00 in a Monday, February 14 research report. Truist Financial cut its price target on Wix.com from $290.00 to $170.00 and set a “buy” rating on the stock in a Thursday, Feb. 17 research report. Royal Bank of Canada cut its price target on Wix.com from $200.00 to $85.00 and issued an “sector performance” rating on the stock in a research report on Thursday, February 17. Barclays reduced its price target on Wix.com from $170.00 to $105.00 in a Thursday, February 17 research report. Finally, Morgan Stanley cut its price target on Wix.com from $215.00 to $135.00 and set the stock an “overweight” rating in a Thursday, Feb. 17 report. Ten analysts gave the stock a hold rating and eleven gave the stock a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $187.94.
Shares of NASDAQ WIX traded at $2.33 during trading hours on Wednesday, hitting $96.27. 404,211 shares were traded, against an average volume of 1,202,586. The company has a market capitalization of $5.51 billion, a price-earnings ratio of -29.90 and a beta of 1.44. The company has a debt ratio of 6.33, a quick ratio of 1.79 and a current ratio of 1.79. Wix.com has a 52 week minimum of $70.70 and a 52 week maximum of $329.00. The stock’s fifty-day simple moving average is $94.50 and its 200-day simple moving average is $140.26.
Wix.com (NASDAQ:WIX – Get Rating) last released its quarterly results on Wednesday, February 16. The information services provider reported ($1.35) earnings per share (EPS) for the quarter, meeting the Zacks consensus estimate of ($1.35). The company posted revenue of $328.30 million for the quarter, versus a consensus estimate of $332.80 million. Wix.com had a negative return on equity of 94.76% and a negative net margin of 14.03%. The company’s quarterly revenue increased by 16.2% compared to the same quarter last year. In the same quarter a year earlier, the company posted ($0.80) earnings per share. Research analysts predict Wix.com to post -5.53 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently increased or reduced their holdings in WIX. Amundi Pioneer Asset Management Inc. increased its position in Wix.com by 202.4% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,111 shares of the information services provider worth $255,000 after buying 1,413 additional shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in Wix.com by 139.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,956 shares of the information services provider worth $1,547,000 after buying an additional 4,627 shares in the last quarter. Stephens Inc. AR increased its position in Wix.com by 200.0% during Q3. Stephens Inc. AR now owns 150 shares of the information services provider worth $29,000 after buying an additional 100 shares in the last quarter. WINTON GROUP Ltd bought a new position in Wix.com during Q3 worth $206,000. Finally, Signaturefd LLC increased its position in Wix.com by 26.9% during the 3rd quarter. Signaturefd LLC now owns 510 shares of the information services provider worth $100,000 after buying 108 additional shares in the last quarter. 89.47% of the shares are currently held by institutional investors.
Company Profile Wix.com (Get a rating)
Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting and email marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami and Giora Kaplan on October 5, 2006 and is based in Tel Aviv, Israel.
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