Wix.com (NASDAQ:WIX – Get Rating) was downgraded by analysts at Atlantic Securities from an “overweight” rating to a “neutral” rating in a note released Tuesday to investors, reports The Fly.
Other stock analysts have also released reports on the stock. Bank of America cut its price target on Wix.com shares from $320.00 to $200.00 and placed a “buy” rating on the stock in a Thursday, Feb. 17 research report. Oppenheimer cut 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 report. JMP Securities reduced its target price on Wix.com shares from $250.00 to $140.00 and set a “market outperformance” rating on the stock in a Thursday, Feb. 17 research report. Barclays reduced its target price on Wix.com shares from $170.00 to $105.00 in a Thursday, February 17 research report. Finally, Guggenheim downgraded shares of Wix.com from a “buy” rating to a “neutral” rating in a Wednesday, February 16 research report. Eight investment analysts gave the stock a hold rating and twelve gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $208.05.
Wix.com stock opened at $91.58 on Tuesday. The company has a debt ratio of 4.71, a current ratio of 1.83 and a quick ratio of 1.83. Wix.com has a 1-year minimum of $77.64 and a 1-year maximum of $361.62. The company has a market capitalization of $5.13 billion, a P/E ratio of -38.00 and a beta of 1.29. The company’s 50-day moving average is $128.25 and its 200-day moving average is $168.43.
Wix.com (NASDAQ:WIX – Get Rating) last released its quarterly earnings data on Wednesday, February 16. The information services provider reported ($0.37) earnings per share for the quarter, beating the Zacks consensus estimate of ($1.35) by $0.98. Wix.com had a negative net margin of 10.61% and a negative return on equity of 67.18%. The company posted revenue of $328.30 million for the quarter, versus analyst estimates of $332.80 million. During the same period of the previous year, the company posted an EPS of ($0.80). The company’s revenue for the quarter increased 16.2% on an annual basis. Research analysts expect Wix.com to post earnings per share of -4.86 for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Flossbach Von Storch AG increased its stake in Wix.com shares by 8.8% during the fourth quarter. Flossbach Von Storch AG now owns 4,013,697 shares of the information services provider worth $633,321,000 after purchasing an additional 323,779 shares during the period. Principal Financial Group Inc. increased its stake in shares of Wix.com by 8.2% during the third quarter. Principal Financial Group Inc. now owns 2,952,822 shares of the information services provider worth $578,664,000 after purchasing an additional 223,822 shares during the period. Janus Henderson Group PLC increased its stake in shares of Wix.com by 16.2% during the third quarter. Janus Henderson Group PLC now owns 2,576,976 shares of the information services provider worth $505,009,000 after purchasing an additional 359,759 shares during the period. Steadfast Capital Management LP increased its stake in shares of Wix.com by 10.3% during the third quarter. Steadfast Capital Management LP now owns 1,528,282 shares of the information services provider worth $299,497,000 after purchasing an additional 142,559 shares during the period. Finally, Dorsey Asset Management LLC increased its stake in shares of Wix.com by 75.2% during the fourth quarter. Dorsey Asset Management LLC now owns 1,485,198 shares of the information services provider worth $234,349,000 after purchasing an additional 637,351 shares during the period. Institutional investors and hedge funds hold 90.87% of the company’s shares.
Company Profile Wix.com (Get a rating)
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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