Wix.com’s (WIX) Hold Rating Reiterated at RBC Capital Markets
RBC Capital Markets reissued their hold rating on shares of Wix.com Ltd. (NASDAQ:WIX) in a report issued on Friday morning. They currently have a $52.00 target price on the stock, up from their previous target price of $45.00.
Several other research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. cut shares of Wix.com from an overweight rating to a neutral rating and increased their price target for the stock from $46.00 to $50.00 in a report on Wednesday, September 21st. Royal Bank Of Canada cut shares of Wix.com from an outperform rating to a sector perform rating and set a $45.00 target price for the company. in a report on Friday, September 23rd. Summit Redstone began coverage on shares of Wix.com in a report on Wednesday, September 7th. They issued a buy rating and a $48.00 target price for the company. Needham & Company LLC increased their target price on shares of Wix.com from $30.00 to $43.00 and gave the company a buy rating in a report on Thursday, July 28th. Finally, Zacks Investment Research cut shares of Wix.com from a buy rating to a hold rating in a report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Wix.com presently has a consensus rating of Buy and a consensus target price of $44.37.
Shares of Wix.com (NASDAQ:WIX) opened at 46.10 on Friday. The stock’s market cap is $1.97 billion. Wix.com has a 52-week low of $14.79 and a 52-week high of $49.65. The stock’s 50 day moving average is $43.44 and its 200 day moving average is $35.87.
Wix.com (NASDAQ:WIX) last posted its quarterly earnings results on Thursday, November 10th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.02. The firm had revenue of $75.60 million for the quarter, compared to analysts’ expectations of $72.85 million. The company’s revenue for the quarter was up 13959.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.15) earnings per share. On average, equities analysts expect that Wix.com will post ($0.44) earnings per share for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the company. Public Employees Retirement Association of Colorado purchased a new stake in shares of Wix.com during the second quarter worth about $131,000. Penserra Capital Management LLC raised 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 worth $132,000 after buying an additional 761 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised 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 worth $173,000 after buying an additional 2,012 shares during the period. Verition Fund Management LLC bought a new position in shares of Wix.com during the third quarter worth $213,000. Finally, Clinton Group Inc. bought a new position in shares of Wix.com during the third quarter worth $215,000. Hedge funds and other institutional investors own 65.95% of the company’s stock.
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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