Wix.com Ltd. (WIX) Receives Average Rating of “Hold” from Analysts

Shares of Wix.com Ltd. (NASDAQ:WIX) have received an average rating of “Hold” from the nineteen ratings firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and ten have given a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $75.70.

A number of research analysts recently issued reports on the company. KeyCorp assumed coverage on Wix.com in a research report on Sunday, July 23rd. They set an “overweight” rating and a $88.00 price objective for the company. BidaskClub lowered Wix.com from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Zacks Investment Research lowered Wix.com from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Royal Bank Of Canada restated a “hold” rating on shares of Wix.com in a research report on Friday, July 28th. Finally, Wedbush assumed coverage on Wix.com in a research report on Thursday, June 22nd. They set an “outperform” rating and a $86.00 price objective for the company.

A number of hedge funds have recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd acquired a new position in Wix.com during the 2nd quarter worth $621,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Wix.com during the 2nd quarter worth $13,224,000. Newbrook Capital Advisors LP acquired a new position in Wix.com during the 2nd quarter worth $10,993,000. State Street Corp boosted its position in Wix.com by 13.8% during the 2nd quarter. State Street Corp now owns 150,193 shares of the information services provider’s stock worth $10,453,000 after acquiring an additional 18,260 shares during the period. Finally, Maverick Capital Ltd. boosted its position in Wix.com by 54.6% during the 2nd quarter. Maverick Capital Ltd. now owns 33,400 shares of the information services provider’s stock worth $2,325,000 after acquiring an additional 11,800 shares during the period. Institutional investors own 70.03% of the company’s stock.

Wix.com (NASDAQ:WIX) traded down 1.28% during midday trading on Tuesday, hitting $65.30. The stock had a trading volume of 507,863 shares. Wix.com has a 12-month low of $38.65 and a 12-month high of $86.15. The company’s market cap is $2.96 billion. The company has a 50-day moving average price of $63.31 and a 200-day moving average price of $69.75.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Thursday, July 27th. The information services provider reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.16. The firm had revenue of $103.50 million during the quarter, compared to analyst estimates of $101.93 million. During the same period last year, the business earned ($0.09) EPS. The company’s revenue was up 50.7% on a year-over-year basis. Equities analysts anticipate that Wix.com will post $0.24 EPS for the current year.

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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.

Analyst Recommendations for Wix.com (NASDAQ:WIX)

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