Wix.Com (NASDAQ:WIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday, Zacks.com reports.

According to Zacks, “Wix.com is a cloud-based web development platform. Increasing investments on product development, infrastructure and platform are anticipated to drag down the company’s bottom-line in the near term. Further, lack of significant presence in the Asia-Pacific market which is reportedly the fastest growing retail e-commerce market remains a concern. Moreover, stiff competition from peers adds to its woes. Also, the company focuses on the SMB segment which is more susceptible to macro-economic headwinds. Nonetheless, Wix is expected to benefit from retail’s rapid transition to mobile and social sales channels. Wix continues to launch a number of user-friendly applications to meet the requirements of a dynamic retail environment, consequently adding to its user base. We believe that massive growth in e-commerce spending also bodes well for Wix.”

Several other research firms have also recently issued reports on WIX. Royal Bank of Canada boosted their target price on shares of Wix.Com to $120.00 and gave the company a “positive” rating in a research note on Thursday, February 21st. Guggenheim began coverage on shares of Wix.Com in a research report on Tuesday, March 19th. They set a “buy” rating and a $108.89 price target on the stock. Citigroup began coverage on shares of Wix.Com in a report on Wednesday, December 19th. They issued a “buy” rating for the company. Rosenblatt Securities cut shares of Wix.Com from a “neutral” rating to a “sell” rating and cut their price objective for the company from $75.00 to $73.00 in a report on Wednesday, February 20th. Finally, ValuEngine downgraded shares of Wix.Com from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $110.99.

Wix.Com stock opened at $120.34 on Monday. The company has a current ratio of 2.15, a quick ratio of 2.24 and a debt-to-equity ratio of 2.23. The stock has a market cap of $5.60 billion, a P/E ratio of -273.50 and a beta of 1.70. Wix.Com has a 52 week low of $76.05 and a 52 week high of $125.84.

Wix.Com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, February 20th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.47. Wix.Com had a negative return on equity of 21.72% and a negative net margin of 6.15%. The company had revenue of $164.20 million during the quarter, compared to the consensus estimate of $162.02 million. During the same period in the previous year, the company posted $0.16 earnings per share. Wix.Com’s revenue for the quarter was up 38.4% on a year-over-year basis. Research analysts anticipate that Wix.Com will post -0.57 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in WIX. Juncture Wealth Strategies LLC acquired a new stake in Wix.Com in the 1st quarter worth about $579,000. Geode Capital Management LLC raised its holdings in shares of Wix.Com by 377.0% during the fourth quarter. Geode Capital Management LLC now owns 176,387 shares of the information services provider’s stock valued at $15,906,000 after acquiring an additional 139,411 shares during the last quarter. Norges Bank acquired a new position in shares of Wix.Com during the fourth quarter valued at approximately $32,979,000. APG Asset Management N.V. purchased a new position in shares of Wix.Com in the fourth quarter valued at approximately $711,000. Finally, CI Investments Inc. purchased a new position in shares of Wix.Com in the fourth quarter valued at approximately $37,566,000. 88.04% of the stock is owned by institutional investors and hedge funds.

About Wix.Com

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

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