Wix.com Ltd. (WIX) - What Are Researchers Saying About This Stock?

Key Points

• Analysts’ consensus is “Hold”: Of 23 firms covering Wix, 10 rate it Buy, 10 Hold and 3 Sell; the average 12-month price target is $89.52.
• Recent broker actions were mixed: Morgan Stanley raised its target to $73, while JPMorgan, RBC and Wedbush lowered theirs to $59, $58 and $75, respectively.
• Wix slightly beat quarterly estimates, reporting EPS of $1.42 versus $1.40 expected and revenue of $570.17 million versus $566.27 million expected; revenue rose 12.9% year over year, while EPS was below the year-ago $1.80.

Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) have received a consensus recommendation of "Hold" from the twenty-three ratings firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $89.52.

WIX has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Wix.com from $65.00 to $73.00 and gave the company an "equal weight" rating in a report on Wednesday. Weiss Ratings upgraded shares of Wix.com from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 11th. JPMorgan Chase & Co. reduced their price objective on shares of Wix.com from $62.00 to $59.00 and set an "underweight" rating for the company in a research report on Tuesday, November 10th. Royal Bank Of Canada reduced their price target on Wix.com from $60.00 to $58.00 and set a "sector perform" rating for the company in a report on Wednesday. Finally, Wedbush decreased their price target on Wix.com from $80.00 to $75.00 and set a "neutral" rating on the stock in a research note on Tuesday.

Insider Transactions at Wix.com

In other news, 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 transaction of $45,505.00. Following the completion of the sale, the insider directly owned 183,010 shares in the company, valued at $17,385,950. The trade was a 0.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Avishai Abrahami purchased 654 shares of the business's stock in a transaction on Monday, August 31st. The shares were bought at an average cost of $59.89 per share, for a total transaction of $39,168.06. Following the purchase, the chief executive officer owned 486,225 shares of the company's stock, valued at $29,120,015.25. This trade represents a 0.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have bought 2,622 shares of company stock worth $157,032 in the last quarter. Insiders own 6.20% of the company's stock.

Hedge Funds Weigh In On Wix.com

Several hedge funds and other institutional investors have recently modified their holdings of WIX. Marshall Wace LLP acquired a new stake in shares of Wix.com in the 3rd quarter worth approximately $1,661,000. Advisors Asset Management Inc. acquired a new position in shares of Wix.com during the third quarter valued at approximately $53,000. Proem Advisors LLC raised its holdings in Wix.com by 23.7% during the third quarter. Proem Advisors LLC now owns 117,500 shares of the information services provider's stock worth $8,475,000 after purchasing an additional 22,500 shares in the last quarter. Landscape Capital Management L.L.C. bought a new stake in Wix.com during the third quarter worth approximately $3,743,000. Finally, Virtus Advisers LLC acquired a new position in shares of Wix.com during the 3rd quarter valued at $1,328,000. Institutional investors and hedge funds own 81.52% of the company's stock.

Wix.com Trading Up 1.9%

Shares of NASDAQ WIX traded up $1.27 during mid-day trading on Friday, reaching $67.17. The company had a trading volume of 461,053 shares, compared to its average volume of 866,394. Wix.com has a 52-week low of $40.16 and a 52-week high of $129.40. The stock has a market cap of $3.92 billion, a P/E ratio of -17.45, a PEG ratio of 43.60 and a beta of 1.06. The firm has a 50 day simple moving average of $75.79 and a two-hundred day simple moving average of $70.00.

Wix.com (NASDAQ:WIX - Get Free Report) last announced its earnings results on Tuesday, November 10th. The information services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.40 by $0.02. The firm had revenue of $570.17 million during the quarter, compared to analysts' expectations of $566.27 million. Wix.com had a negative return on equity of 1.61% and a negative net margin of 8.54%. The business's revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.80 EPS. On average, equities analysts expect that Wix.com will post 0.24 EPS for the current year.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.

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