Wix.Com Ltd (NASDAQ:WIX) – Stock analysts at Wedbush cut their Q3 2020 earnings estimates for Wix.Com in a research note issued to investors on Wednesday, July 29th. Wedbush analyst Y. Arounian now anticipates that the information services provider will post earnings of ($0.33) per share for the quarter, down from their prior estimate of ($0.32). Wedbush has a “Outperform” rating and a $300.00 price target on the stock. Wedbush also issued estimates for Wix.Com’s Q1 2021 earnings at ($0.32) EPS, Q2 2021 earnings at ($0.22) EPS, Q3 2021 earnings at ($0.16) EPS, Q4 2021 earnings at ($0.13) EPS and FY2022 earnings at ($0.20) EPS.

A number of other research firms have also commented on WIX. Raymond James raised shares of Wix.Com from a “market perform” rating to an “outperform” rating and set a $222.00 price target on the stock in a research report on Friday, May 15th. Barclays lifted their price target on shares of Wix.Com from $195.00 to $329.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. BidaskClub downgraded shares of Wix.Com from a “buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Deutsche Bank lifted their price target on Wix.Com from $166.00 to $220.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Northland Securities lifted their price target on Wix.Com from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $263.06.

NASDAQ:WIX opened at $290.48 on Friday. Wix.Com has a 12 month low of $76.81 and a 12 month high of $299.83. The firm has a market cap of $14.48 billion, a price-to-earnings ratio of -157.02 and a beta of 1.88. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.73. The company’s 50 day moving average is $261.02 and its 200-day moving average is $174.15.

Wix.Com (NASDAQ:WIX) last announced its earnings results on Thursday, May 14th. The information services provider reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.63. The company had revenue of $215.99 million during the quarter, compared to analysts’ expectations of $215.80 million. Wix.Com had a negative net margin of 11.81% and a negative return on equity of 29.30%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in shares of Wix.Com by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 2,634,701 shares of the information services provider’s stock valued at $265,630,000 after purchasing an additional 45,706 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Wix.Com by 2.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,721,958 shares of the information services provider’s stock worth $173,608,000 after acquiring an additional 40,854 shares during the last quarter. Invesco Ltd. boosted its position in Wix.Com by 1,648.9% during the 1st quarter. Invesco Ltd. now owns 531,563 shares of the information services provider’s stock worth $53,592,000 after acquiring an additional 501,169 shares during the last quarter. Menora Mivtachim Holdings LTD. boosted its position in Wix.Com by 12.9% during the 1st quarter. Menora Mivtachim Holdings LTD. now owns 365,042 shares of the information services provider’s stock worth $36,804,000 after acquiring an additional 41,753 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Wix.Com by 117.0% during the 4th quarter. Nuveen Asset Management LLC now owns 360,834 shares of the information services provider’s stock worth $44,158,000 after acquiring an additional 194,568 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

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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Earnings History and Estimates for Wix.Com (NASDAQ:WIX)

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