Wix.com’s (WIX) Buy Rating Reiterated at Needham & Company LLC
Wix.com Ltd. (NASDAQ:WIX)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a report issued on Friday. They presently have a $55.00 target price on the stock. Needham & Company LLC’s target price indicates a potential upside of 8.59% from the company’s previous close.
A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald initiated coverage on Wix.com in a research report on Tuesday, October 18th. They issued a “buy” rating and a $52.00 price target for the company. JMP Securities set a $57.00 price target on Wix.com and gave the company a “buy” rating in a research report on Friday, November 11th. RBC Capital Markets reiterated a “hold” rating and issued a $52.00 price target (up previously from $45.00) on shares of Wix.com in a research report on Friday, November 11th. Vetr lowered Wix.com from a “strong-buy” rating to a “hold” rating and set a $47.84 price target for the company. in a research report on Thursday, November 10th. Finally, J P Morgan Chase & Co lowered Wix.com from an “overweight” rating to a “neutral” rating and increased their price target for the company from $46.00 to $50.00 in a research report on Wednesday, September 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $45.30.
Wix.com (NASDAQ:WIX) traded up 0.60% during mid-day trading on Friday, reaching $50.65. 492,241 shares of the company’s stock were exchanged. Wix.com has a 52 week low of $14.79 and a 52 week high of $52.50. The company’s 50 day moving average price is $46.78 and its 200-day moving average price is $40.96. The company’s market capitalization is $2.16 billion.
Wix.com (NASDAQ:WIX) last announced its earnings results on Thursday, November 10th. The company reported ($0.04) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The firm had revenue of $75.60 million for the quarter, compared to the consensus estimate of $72.85 million. During the same period in the prior year, the business earned ($0.15) EPS. The company’s quarterly revenue was up 13959.7% compared to the same quarter last year. On average, equities research analysts expect that Wix.com will post ($0.40) earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. BlackRock Advisors LLC increased its position in shares of Wix.com by 80.7% in the third quarter. BlackRock Advisors LLC now owns 184,145 shares of the company’s stock worth $7,997,000 after buying an additional 82,237 shares during the last quarter. Acadian Asset Management LLC raised its stake in Wix.com by 181.8% in the third quarter. Acadian Asset Management LLC now owns 139,179 shares of the company’s stock worth $6,045,000 after buying an additional 89,788 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Wix.com during the third quarter worth about $3,631,000. Swiss National Bank raised its stake in Wix.com by 103.1% in the second quarter. Swiss National Bank now owns 46,300 shares of the company’s stock worth $1,405,000 after buying an additional 23,500 shares during the period. Finally, Alpine Partners VI LLC acquired a new stake in Wix.com during the second quarter worth about $771,000. 75.63% of the stock is owned by institutional investors.
Wix.com Company Profile
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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