Wix.com (NASDAQ:WIX) Given New $58.00 Price Target at Royal Bank Of Canada

Wix.com (NASDAQ:WIX) had its target price trimmed by Royal Bank Of Canada from $60.00 to $58.00 in a report released on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the information services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Bank of America downgraded shares of Wix.com from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $75.00 to $68.00 in a research report on Tuesday. Wells Fargo & Company decreased their target price on Wix.com from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Weiss Ratings upgraded Wix.com from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, September 11th. Benchmark reiterated a “buy” rating on shares of Wix.com in a research note on Wednesday, August 26th. Finally, Raymond James Financial cut Wix.com from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $75.00 to $70.00 in a report on Thursday, July 30th. Ten analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.52.

Wix.com Price Performance

Shares of WIX opened at $68.34 on Wednesday. The company’s 50-day moving average is $76.48 and its 200-day moving average is $70.22. Wix.com has a fifty-two week low of $40.16 and a fifty-two week high of $135.00.

Wix.com (NASDAQ:WIX) last announced its earnings results on Tuesday, November 10th. The information services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.40 by $0.02. The business had revenue of $570.17 million during the quarter, compared to the consensus estimate of $566.27 million. Wix.com had a negative net margin of 8.54% and a negative return on equity of 1.61%. Wix.com’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 EPS. As a group, equities research analysts anticipate that Wix.com will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling at Wix.com

In other Wix.com news, Director Ron Gutler sold 5,718 shares of Wix.com stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.42, for a total value of $488,431.56. Following the completion of the sale, the director owned 15,631 shares in the company, valued at $1,335,200.02. The trade was a 26.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CMO Omer Shai acquired 490 shares of the business’s stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $59.89 per share, with a total value of $29,346.10. Following the acquisition, the chief marketing officer directly owned 515,879 shares in the company, valued at approximately $30,895,993.31. This trade represents a 0.10% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 2,622 shares of company stock valued at $157,032 in the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC raised its position in shares of Wix.com by 74.1% in the third quarter. Farther Finance Advisors LLC now owns 416 shares of the information services provider’s stock valued at $30,000 after buying an additional 177 shares in the last quarter. Versant Capital Management Inc grew its position in Wix.com by 537.6% during the third quarter. Versant Capital Management Inc now owns 542 shares of the information services provider’s stock worth $39,000 after buying an additional 457 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in Wix.com during the third quarter worth approximately $53,000. Lombard Odier Asset Management USA Corp acquired a new stake in Wix.com during the first quarter worth approximately $210,000. Finally, State of Alaska Department of Revenue bought a new position in Wix.com during the 3rd quarter worth $173,000. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Recent Wix.com Headlines

Here are a few of the latest headlines about WIX:

• Positive Sentiment: Wix reported Q3 revenue of $570.2 million, up 12.9% year over year, and adjusted earnings of $1.42 per share, both slightly above analyst expectations. Wix Q3 results
• Neutral Sentiment: Analyst actions were divided: Morgan Stanley raised its target to $73 and Cantor Fitzgerald maintained an Overweight rating despite lowering its target to $80. Citigroup trimmed its target to $71 and kept a Neutral rating. Morgan Stanley target update Cantor Fitzgerald target update
• Negative Sentiment: Several firms took a more cautious stance: Bank of America downgraded WIX to Underperform, while JPMorgan, RBC, and Wells Fargo lowered their price targets. These moves signal concern about valuation and near-term execution despite the earnings beat. Analyst downgrades Wells Fargo target update

About Wix.com

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.