Wix.com (NASDAQ:WIX) Stock Moved Up to “Buy” by Wall Street Zen

Wall Street Zen upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other research analysts have also recently weighed in on the stock. Raymond James Financial cut shares of Wix.com from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $75.00 to $70.00 in a research report on Thursday, July 30th. Benchmark restated a “buy” rating on shares of Wix.com in a report on Wednesday, August 26th. Wells Fargo & Company lifted their price target on shares of Wix.com from $46.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 5th. Needham & Company LLC lifted their price target on shares of Wix.com from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, September 23rd. Finally, UBS Group set a $110.00 price objective on shares of Wix.com in a research note on Monday, October 26th. Eleven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $93.43.

Wix.com Stock Down 1.3%

Shares of Wix.com stock opened at $77.07 on Friday. Wix.com has a twelve month low of $40.16 and a twelve month high of $148.33. The business has a 50-day moving average price of $78.47 and a 200-day moving average price of $70.65. The firm has a market cap of $4.49 billion, a price-to-earnings ratio of -21.77, a PEG ratio of 36.63 and a beta of 1.01.

Wix.com (NASDAQ:WIX) last posted its earnings results on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.26. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.19%. The company had revenue of $563.06 million for the quarter, compared to the consensus estimate of $552.56 million. During the same period in the previous year, the business earned $2.28 earnings per share. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, equities analysts expect that Wix.com will post 0.24 EPS for the current fiscal year.

Insider Activity at Wix.com

In other news, CMO Omer Shai purchased 490 shares of the business’s stock in a transaction dated Monday, August 31st. The shares were purchased at an average price of $59.89 per share, for a total transaction of $29,346.10. Following the completion of the purchase, the chief marketing officer owned 515,879 shares in the company, valued at approximately $30,895,993.31. This represents a 0.10% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shelly B. Meyer sold 479 shares of Wix.com stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $95.00, for a total value of $45,505.00. Following the completion of the sale, the insider owned 183,010 shares of the company’s stock, valued at $17,385,950. The trade was a 0.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders bought a total of 2,622 shares of company stock worth $157,032 over the last three months. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently modified their holdings of the business. Hsbc Holdings PLC raised its position in Wix.com by 11,894.0% during the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after acquiring an additional 3,500,047 shares in the last quarter. Senvest Management LLC lifted its holdings in Wix.com by 24.8% in the first quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after acquiring an additional 746,200 shares during the period. OMERS ADMINISTRATION Corp boosted its position in Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after purchasing an additional 685,614 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Wix.com by 57.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after purchasing an additional 578,729 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Wix.com by 52.1% in the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after purchasing an additional 197,200 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.