Wix.com (NASDAQ:WIX) Price Target Cut to $63.00 by Analysts at Wells Fargo & Company

Wix.com (NASDAQ:WIX) had its target price trimmed by Wells Fargo & Company from $64.00 to $63.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the information services provider’s stock.

WIX has been the topic of several other reports. Royal Bank Of Canada upped their price objective on Wix.com from $45.00 to $60.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 5th. Raymond James Financial lowered shares of Wix.com from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $75.00 to $70.00 in a report on Thursday, July 30th. Needham & Company LLC boosted their price target on shares of Wix.com from $80.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. Cantor Fitzgerald lowered their price objective on shares of Wix.com from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Wednesday. Finally, Bank of America downgraded shares of Wix.com from a “buy” rating to an “underperform” rating and reduced their target price for the stock from $75.00 to $68.00 in a report on Tuesday. Ten equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Wix.com currently has an average rating of “Hold” and an average target price of $89.52.

Wix.com Stock Up 6.2%

WIX opened at $68.34 on Wednesday. The company has a fifty day moving average of $76.48 and a 200 day moving average of $70.22. Wix.com has a fifty-two week low of $40.16 and a fifty-two week high of $135.00.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Tuesday, November 10th. The information services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. Wix.com had a negative net margin of 8.54% and a negative return on equity of 1.61%. The business had revenue of $570.17 million for the quarter, compared to analysts’ expectations of $566.27 million. During the same quarter in the previous year, the company earned $1.80 EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts predict that Wix.com will post 0.24 earnings per share for the current year.

Insider Transactions at Wix.com

In other news, CEO Avishai Abrahami bought 654 shares of the firm’s stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $59.89 per share, with a total value of $39,168.06. Following the transaction, the chief executive officer directly owned 486,225 shares in the company, valued at approximately $29,120,015.25. This trade represents a 0.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Omer Shai purchased 490 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $59.89 per share, for a total transaction of $29,346.10. Following the purchase, the chief marketing officer owned 515,879 shares of the company’s stock, valued at approximately $30,895,993.31. This trade represents a 0.10% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought 2,622 shares of company stock valued at $157,032 in the last ninety days. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Hsbc Holdings PLC grew its holdings in Wix.com by 11,894.0% during the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock worth $318,676,000 after acquiring an additional 3,500,047 shares in the last quarter. Senvest Management LLC raised its holdings 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. OMERS ADMINISTRATION Corp raised its holdings in shares of Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock valued at $62,623,000 after purchasing an additional 685,614 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Wix.com by 57.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after purchasing an additional 578,729 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Wix.com by 52.1% in the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after purchasing an additional 197,200 shares during the period. 81.52% of the stock is currently owned by institutional investors.

Key Wix.com News

Investors following WIX have been watching these news items:

• Positive Sentiment: Wix reported Q3 revenue of $570.2 million, up 12.9% year over year, and adjusted earnings of $1.42 per share, both slightly above analyst expectations. Wix Q3 results
• Neutral Sentiment: Analyst actions were divided: Morgan Stanley raised its target to $73 and Cantor Fitzgerald maintained an Overweight rating despite lowering its target to $80. Citigroup trimmed its target to $71 and kept a Neutral rating. Morgan Stanley target update Cantor Fitzgerald target update
• Negative Sentiment: Several firms took a more cautious stance: Bank of America downgraded WIX to Underperform, while JPMorgan, RBC, and Wells Fargo lowered their price targets. These moves signal concern about valuation and near-term execution despite the earnings beat. Analyst downgrades Wells Fargo target update

About Wix.com

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.