Wix.com Ltd. (WIX) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Wix.com Ltd. (NASDAQ:WIX) announced its quarterly earnings data on Thursday. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.02. The company earned $75.60 million during the quarter, compared to the consensus estimate of $72.85 million.
Wix.com (NASDAQ:WIX) opened at 42.60 on Thursday. The stock’s market cap is $1.75 billion. Wix.com has a 52 week low of $14.79 and a 52 week high of $49.49. The company’s 50-day moving average is $43.06 and its 200 day moving average is $35.13.
Several institutional investors have recently added to or reduced their stakes in WIX. BlackRock Institutional Trust Company N.A. boosted its position in Wix.com by 0.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 201,199 shares of the company’s stock worth $8,738,000 after buying an additional 1,520 shares in the last quarter. TIAA CREF Investment Management LLC boosted its position in Wix.com by 1.5% in the third quarter. TIAA CREF Investment Management LLC now owns 72,739 shares of the company’s stock worth $3,159,000 after buying an additional 1,087 shares in the last quarter. BlackRock Fund Advisors boosted its position in Wix.com by 0.3% in the third quarter. BlackRock Fund Advisors now owns 125,115 shares of the company’s stock worth $5,434,000 after buying an additional 322 shares in the last quarter. Paloma Partners Management Co acquired a new position in Wix.com during the second quarter worth $2,121,000. Finally, Marshall Wace LLP acquired a new position in Wix.com during the second quarter worth $339,000. Institutional investors and hedge funds own 65.38% of the company’s stock.
Several analysts have commented on WIX shares. JPMorgan Chase & Co. lowered shares of Wix.com from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $46.00 to $50.00 in a research report on Wednesday, September 21st. Royal Bank Of Canada lowered shares of Wix.com from an “outperform” rating to a “sector perform” rating and set a $45.00 price objective on the stock. in a research report on Friday, September 23rd. Summit Redstone started coverage on shares of Wix.com in a research report on Wednesday, September 7th. They issued a “buy” rating and a $48.00 price objective on the stock. Needham & Company LLC lifted their price objective on shares of Wix.com from $30.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, July 28th. Finally, RBC Capital Markets lowered shares of Wix.com from an “outperform” rating to a “sector perform” rating and set a $45.00 price target on the stock. in a research report on Thursday, September 22nd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.61.
Wix is a leading global software platform for small businesses to operate online with millions of registered users in 190 countries. Wix was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix’s powerful technology empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online.
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