StockNews.com cut shares of Wix.com (NASDAQ:WIX – Free Report) from a buy rating to a hold rating in a research note issued to investors on Friday.
Several other research firms have also commented on WIX. Royal Bank of Canada lifted their price target on Wix.com from $135.00 to $160.00 and gave the stock an outperform rating in a report on Thursday, February 22nd. Raymond James initiated coverage on Wix.com in a report on Wednesday, March 27th. They set an outperform rating and a $160.00 price target on the stock. Benchmark lifted their price target on Wix.com from $132.00 to $175.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Piper Sandler lifted their price target on Wix.com from $146.00 to $165.00 and gave the stock an overweight rating in a report on Thursday, February 22nd. Finally, Needham & Company LLC reiterated a buy rating and set a $150.00 price target on shares of Wix.com in a report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $139.53.
Read Our Latest Report on Wix.com
Wix.com Stock Up 0.4 %
Wix.com (NASDAQ:WIX – Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 EPS for the quarter, topping the consensus estimate of $0.98 by $0.24. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. The business had revenue of $403.80 million for the quarter, compared to analyst estimates of $416.87 million. During the same quarter in the previous year, the firm earned ($0.42) EPS. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. As a group, research analysts anticipate that Wix.com will post 1.16 earnings per share for the current year.
Institutional Trading of Wix.com
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new stake in Wix.com during the fourth quarter worth about $1,679,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Wix.com by 65.6% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 86,300 shares of the information services provider’s stock worth $10,617,000 after purchasing an additional 34,200 shares during the period. Wellington Management Group LLP increased its stake in Wix.com by 10.7% during the fourth quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock worth $148,942,000 after purchasing an additional 117,146 shares during the period. Northwest Bank & Trust Co purchased a new stake in Wix.com during the fourth quarter worth about $26,000. Finally, Sierra Summit Advisors LLC purchased a new stake in Wix.com during the fourth quarter worth about $238,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.
Wix.com Company Profile
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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.
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