Wix.com Ltd. (NASDAQ:WIX) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday. They presently have a $47.84 target price on the stock. Vetr‘s price target would suggest a potential downside of 3.26% from the company’s current price.

A number of other analysts have also issued reports on WIX. RBC Capital Markets lifted their price objective on shares of Wix.com from $35.00 to $45.00 and gave the company an “outperform” rating in a research note on Wednesday, July 27th. Needham & Company LLC lifted their price objective on shares of Wix.com from $30.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Deutsche Bank AG lifted their price objective on shares of Wix.com from $33.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, July 28th. Oppenheimer Holdings Inc. lifted their price objective on shares of Wix.com from $37.00 to $44.00 and gave the company an “outperform” rating in a research note on Thursday, July 28th. Finally, Zacks Investment Research downgraded shares of Wix.com from a “buy” rating to a “hold” rating in a research report on Saturday, July 30th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $44.37.

Analyst Recommendations for Wix.com (NASDAQ:WIX)

Shares of Wix.com (NASDAQ:WIX) opened at 49.45 on Thursday. The stock’s market cap is $2.04 billion. Wix.com has a 52-week low of $14.79 and a 52-week high of $49.65. The company has a 50-day moving average of $43.27 and a 200 day moving average of $35.40.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.02. The business earned $75.60 million during the quarter, compared to analysts’ expectations of $72.85 million. During the same quarter in the previous year, the business posted ($0.15) EPS. The company’s quarterly revenue was up 13959.7% on a year-over-year basis. Equities research analysts forecast that Wix.com will post ($0.44) EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in WIX. Public Employees Retirement Association of Colorado purchased a new position in shares of Wix.com during the second quarter valued at about $131,000. Penserra Capital Management LLC increased its position in shares of Wix.com by 33.3% in the third quarter. Penserra Capital Management LLC now owns 3,044 shares of the company’s stock valued at $132,000 after buying an additional 761 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Wix.com by 54.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,714 shares of the company’s stock valued at $173,000 after buying an additional 2,012 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Wix.com during the third quarter valued at about $233,000. Finally, Wells Fargo & Company MN increased its position in shares of Wix.com by 1,485.6% in the third quarter. Wells Fargo & Company MN now owns 6,263 shares of the company’s stock valued at $272,000 after buying an additional 5,868 shares during the period. 65.38% of the stock is owned by institutional investors.

About Wix.com

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.

5 Day Chart for NASDAQ:WIX

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