SunTrust Banks Comments on Wix.Com Ltd’s FY2020 Earnings (NASDAQ:WIX)

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Wix.Com Ltd (NASDAQ:WIX) – Stock analysts at SunTrust Banks upped their FY2020 earnings per share (EPS) estimates for Wix.Com in a research report issued on Monday, June 29th. SunTrust Banks analyst N. Khan now forecasts that the information services provider will earn ($1.65) per share for the year, up from their previous forecast of ($1.66). SunTrust Banks has a “Buy” rating and a $290.00 price objective on the stock. SunTrust Banks also issued estimates for Wix.Com’s FY2021 earnings at ($1.41) EPS, FY2022 earnings at ($0.21) EPS and FY2023 earnings at $0.76 EPS.

A number of other equities research analysts have also issued reports on WIX. Bank of America reissued a “buy” rating and issued a $250.00 price objective on shares of Wix.Com in a report on Thursday, June 4th. Oppenheimer upped their price objective on shares of Wix.Com from $155.00 to $205.00 and gave the company an “outperform” rating in a report on Friday, May 15th. Barclays upped their price objective on shares of Wix.Com from $130.00 to $195.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Raymond James raised shares of Wix.Com from a “market perform” rating to an “outperform” rating and set a $222.00 price objective for the company in a report on Friday, May 15th. Finally, Needham & Company LLC upped their price objective on shares of Wix.Com from $165.00 to $220.00 and gave the company a “buy” rating in a report on Friday, May 15th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $212.18.

Wix.Com stock opened at $256.22 on Wednesday. Wix.Com has a 52-week low of $76.81 and a 52-week high of $256.87. The firm has a market capitalization of $12.45 billion, a price-to-earnings ratio of -138.50 and a beta of 1.87. The company has a fifty day simple moving average of $217.97 and a 200-day simple moving average of $150.39. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.73.

Wix.Com (NASDAQ:WIX) last released its earnings results on Thursday, May 14th. The information services provider reported ($0.01) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.64) by $0.63. Wix.Com had a negative net margin of 11.81% and a negative return on equity of 29.30%. The business had revenue of $215.99 million during the quarter, compared to analyst estimates of $215.80 million.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. lifted its position in shares of Wix.Com by 1.8% during the first quarter. Principal Financial Group Inc. now owns 2,634,701 shares of the information services provider’s stock worth $265,630,000 after purchasing an additional 45,706 shares in the last quarter. Jackson Square Partners LLC lifted its position in shares of Wix.Com by 19.6% during the fourth quarter. Jackson Square Partners LLC now owns 1,772,954 shares of the information services provider’s stock worth $216,974,000 after purchasing an additional 290,804 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Wix.Com by 2.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 1,721,958 shares of the information services provider’s stock worth $173,608,000 after purchasing an additional 40,854 shares in the last quarter. Sylebra Capital Ltd lifted its position in shares of Wix.Com by 10.1% during the fourth quarter. Sylebra Capital Ltd now owns 902,783 shares of the information services provider’s stock worth $110,483,000 after purchasing an additional 82,647 shares in the last quarter. Finally, Dorsey Asset Management LLC lifted its position in shares of Wix.Com by 8.0% during the fourth quarter. Dorsey Asset Management LLC now owns 551,405 shares of the information services provider’s stock worth $67,481,000 after purchasing an additional 40,866 shares in the last quarter. 91.44% of the stock is currently owned by institutional investors.

Wix.Com Company Profile

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

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Earnings History and Estimates for Wix.Com (NASDAQ:WIX)

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