The Wix.Com Ltd (WIX) PT Raised to $31.00

The Wix.Com Ltd (WIX) PT Raised to $31.00

Several other brokerages have also recently commented on WIX. Stephens cut shares of Wix.Com from an overweight rating to an equal weight rating in a report on Thursday, April 27th. Needham & Company LLC reaffirmed a buy rating and set a $86.00 price target (up from $73.00) on shares of Wix.Com in a research report on Thursday, May 11th. Cantor Fitzgerald lowered shares of Wix.Com from an overweight rating to a neutral rating and upped their price target for the stock from $65.00 to $80.00 in a research report on Tuesday, April 11th. Zacks Investment Research lowered shares of Wix.Com from a hold rating to a sell rating in a research report on Tuesday, May 9th. Finally, Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Wix.Com in a research report on Thursday, April 13th. They noted that the move was a valuation call. Eight equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Wix.Com has an average rating of Buy and an average price target of $65.85.

Wix.Com Ltd (NASDAQ:WIX) had its price objective hoisted by Royal Bank of Canada from $30.00 to $31.00 in a research note released on Thursday, May 11th. Royal Bank of Canada currently has a sector perform rating on the information services provider’s stock.

Wix.Com (NASDAQ:WIX) opened at 76.65 on Thursday. The stock’s 50 day moving average is $75.54 and its 200-day moving average is $61.27. The company’s market cap is $3.43 billion. Wix.Com has a 12-month low of $26.31 and a 12-month high of $86.15. Wix.Com (NASDAQ:WIX) last announced its earnings results on Wednesday, May 10th. The information services provider reported ($0.47) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.33) by $0.14. The company had revenue of $92.50 million for the quarter, compared to analyst estimates of $90.15 million. During the same period last year, the firm earned ($0.30) EPS. The company’s revenue was up 50.2% compared to the same quarter last year. Analysts predict that Wix.Com will post $0.36 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Steadfast Capital Management LP raised its position in Wix.Com by 1.2% in the first quarter. Steadfast Capital Management LP now owns 3,709,502 shares of the information services provider’s stock worth $251,875,000 after buying an additional 43,366 shares in the last quarter. Renaissance Technologies LLC raised its position in Wix.Com by 22.7% in the first quarter. Renaissance Technologies LLC now owns 1,951,700 shares of the information services provider’s stock worth $132,520,000 after buying an additional 361,400 shares in the last quarter. Baillie Gifford & Co. raised its position in Wix.Com by 2.7% in the first quarter. Baillie Gifford & Co. now owns 1,421,160 shares of the information services provider’s stock worth $96,497,000 after buying an additional 37,518 shares in the last quarter. Alliancebernstein L.P. acquired a new position in Wix.Com during the first quarter worth approximately $69,929,000. Finally, Putnam Investments LLC raised its position in Wix.Com by 21.7% in the fourth quarter. Putnam Investments LLC now owns 806,964 shares of the information services provider’s stock worth $35,951,000 after buying an additional 144,037 shares in the last quarter. 76.19% of the stock is currently owned by institutional investors and hedge funds. About Wix.Com

Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WIX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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