Wix.com Ltd. (NASDAQ:WIX) received a consensus “Buy” recommendation from the twenty analysts who cover the company, reports Marketbeat.com. Six equity research analysts rated the stock with a hold recommendation and thirteen gave the company a buy recommendation. The 12-month average price target among brokers who have rated the stock over the past year is $269.28.
WIX has been the subject of several research reports. Oppenheimer reduced his price target on Wix.com shares from $275.00 to $250.00 and set an “outperform” rating on the stock in a Monday, November 15 research note. JMP Securities reduced its target price on shares of Wix.com from $282.00 to $250.00 and set an “outperform” rating on the stock in a Monday, November 22 research note. Piper Sandler cut her price target on Wix.com shares from $218.00 to $156.00 and set a “neutral” rating on the stock in a Wednesday, January 12 research note. Royal Bank of Canada downgraded shares of Wix.com from an “outperforming” rating to an “sector outperforming” rating and reduced its target price for the stock from $270.00 to $210.00 in a research note from Thursday, October 21. Finally, Needham & Company LLC cut its price target on Wix.com shares from $265.00 to $250.00 and set a “buy” rating on the stock in a Friday research note. November 12.
Several large investors have recently changed their holdings in WIX. Flossbach Von Storch AG increased its position in Wix.com shares by 17.5% during the third quarter. Flossbach Von Storch AG now owns 3,689,918 shares of the information services provider worth $723,113,000 after purchasing an additional 548,569 shares in the last quarter. Janus Henderson Group PLC increased its position in Wix.com by 16.2% in Q3. Janus Henderson Group PLC now owns 2,576,976 shares of the information services provider valued at $505,009,000 after buying an additional 359,759 shares in the last quarter. Legal & General Group Plc increased its position in Wix.com by 61.4% in Q2. Legal & General Group Plc now owns 641,651 shares of the information services provider valued at $186,258,000 after buying an additional 244,172 shares in the last quarter. William Blair Investment Management LLC increased its position in Wix.com by 69.2% in Q3. William Blair Investment Management LLC now owns 589,054 shares of the information services provider valued at $115,437,000 after buying an additional 240,865 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in Wix.com by 8.2% in Q3. Principal Financial Group Inc. now owns 2,952,822 shares of the information services provider valued at $578,664,000 after purchasing an additional 223,822 shares in the last quarter. Institutional investors and hedge funds hold 90.87% of the company’s shares.
WIX opened at $118.90 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt ratio of 4.71. The company has a market capitalization of $6.66 billion, a price-earnings ratio of -49.34 and a beta of 1.29. Wix.com has a 52-week low of $113.43 and a 52-week high of $362.07. The company’s fifty-day simple moving average is $147.92 and its two-hundred-day simple moving average is $197.10.
Wix.com (NASDAQ:WIX) last released its quarterly results on Thursday, November 11. The information services provider reported ($0.21) earnings per share for the quarter, beating Thomson Reuters consensus estimate of ($1.33) by $1.12. The company posted revenue of $320.80 million for the quarter, versus a consensus estimate of $314.83 million. Wix.com had a negative net margin of 10.61% and a negative return on equity of 67.18%. During the same period last year, the company posted ($0.84) earnings per share. On average, research analysts expect Wix.com to post -4.86 EPS for the current year.
Company Profile Wix.com
Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting and email marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami and Giora Kaplan on October 5, 2006 and is based in Tel Aviv, Israel.
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