Wix.com Ltd. (WIX) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS
Wix.com Ltd. (NASDAQ:WIX) announced its earnings results on Thursday. The company reported ($0.04) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The business had revenue of $75.60 million for the quarter, compared to analyst estimates of $72.85 million.
Wix.com (NASDAQ:WIX) opened at 42.60 on Thursday. The stock’s 50 day moving average price is $43.06 and its 200-day moving average price is $35.13. The stock’s market capitalization is $1.75 billion. Wix.com has a 12-month low of $14.79 and a 12-month high of $49.49.
Hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in shares of Wix.com during the second quarter valued at about $339,000. BlackRock Inc. boosted its position in Wix.com by 841.2% in the second quarter. BlackRock Inc. now owns 14,194 shares of the company’s stock worth $432,000 after buying an additional 12,686 shares during the period. Parametric Portfolio Associates LLC boosted its position in Wix.com by 20.3% in the second quarter. Parametric Portfolio Associates LLC now owns 15,612 shares of the company’s stock worth $474,000 after buying an additional 2,636 shares during the period. BlackRock Group LTD boosted its position in Wix.com by 2,590.0% in the second quarter. BlackRock Group LTD now owns 27,572 shares of the company’s stock worth $836,000 after buying an additional 26,547 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in Wix.com during the third quarter worth $1,291,000. 65.38% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on WIX shares. Cantor Fitzgerald started coverage on Wix.com in a research note on Tuesday, October 18th. They set a “buy” rating and a $52.00 target price for the company. Summit Redstone started coverage on Wix.com in a research note on Wednesday, September 7th. They set a “buy” rating and a $48.00 target price for the company. Vetr raised Wix.com from a “buy” rating to a “strong-buy” rating and set a $47.87 target price for the company in a research note on Wednesday, October 26th. JPMorgan Chase & Co. cut Wix.com from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $46.00 to $50.00 in a research report on Wednesday, September 21st. Finally, Royal Bank Of Canada cut Wix.com from an “outperform” rating to a “sector perform” rating and set a $45.00 price target for the company. in a research report on Friday, September 23rd. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target 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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