Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) saw unusually-strong trading volume on Thursday . Approximately 1,193,470 shares changed hands during mid-day trading, an increase of 8% from the previous session's volume of 1,108,965 shares.The stock last traded at $176.59 and had previously closed at $181.46.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on WIX shares. Citigroup restated an "outperform" rating on shares of Wix.com in a research note on Tuesday. Royal Bank Of Canada reiterated an "outperform" rating and set a $210.00 price objective on shares of Wix.com in a research note on Tuesday, August 19th. B. Riley reiterated a "buy" rating and set a $230.00 price objective (down previously from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Wall Street Zen cut Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Wix.com has a consensus rating of "Buy" and a consensus target price of $216.16.
Get Our Latest Stock Report on WIX
Wix.com Stock Performance
The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of 62.73, a price-to-earnings-growth ratio of 3.42 and a beta of 1.30. The business has a fifty day moving average of $146.65 and a two-hundred day moving average of $156.82.
Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.49. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The firm had revenue of $489.93 million for the quarter, compared to analyst estimates of $487.62 million. During the same period in the prior year, the firm posted $1.67 EPS. The company's revenue for the quarter was up 12.4% on a year-over-year basis. As a group, sell-side analysts predict that Wix.com Ltd. will post 3.65 EPS for the current fiscal year.
Wix.com announced that its board has authorized a share repurchase plan on Monday, August 11th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.
Institutional Trading of Wix.com
A number of institutional investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock worth $28,000 after buying an additional 66 shares during the last quarter. Procyon Advisors LLC lifted its position in shares of Wix.com by 5.1% during the 1st quarter. Procyon Advisors LLC now owns 1,385 shares of the information services provider's stock worth $226,000 after buying an additional 67 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Wix.com by 8.9% during the 1st quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider's stock worth $161,000 after buying an additional 79 shares during the last quarter. Yousif Capital Management LLC lifted its position in shares of Wix.com by 4.9% during the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after buying an additional 85 shares during the last quarter. Finally, Signaturefd LLC lifted its position in shares of Wix.com by 3.3% during the 1st quarter. Signaturefd LLC now owns 3,402 shares of the information services provider's stock worth $556,000 after buying an additional 109 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.
About Wix.com
(
Get Free Report)
Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Wix.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wix.com wasn't on the list.
While Wix.com currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
