Wix.com (NASDAQ:WIX) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Wix.com (NASDAQ:WIX) from a buy rating to a hold rating in a report released on Wednesday morning.

Several other research firms also recently weighed in on WIX. Benchmark increased their target price on Wix.com from $175.00 to $210.00 and gave the stock a buy rating in a research report on Tuesday, May 21st. KeyCorp assumed coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a sector weight rating for the company. Needham & Company LLC reiterated a buy rating and issued a $190.00 price target on shares of Wix.com in a report on Wednesday. Royal Bank of Canada upped their price objective on Wix.com from $160.00 to $190.00 and gave the stock an outperform rating in a report on Tuesday, May 21st. Finally, Oppenheimer lifted their target price on Wix.com from $160.00 to $200.00 and gave the company an outperform rating in a report on Tuesday, May 21st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Wix.com has a consensus rating of Moderate Buy and a consensus target price of $183.56.

Wix.com Stock Down 0.8 %

NASDAQ WIX traded down $1.27 during mid-day trading on Wednesday, hitting $162.45. The stock had a trading volume of 329,457 shares, compared to its average volume of 612,127. The company has a 50 day simple moving average of $160.81 and a 200 day simple moving average of $143.90. The company has a market cap of $8.91 billion, a price-to-earnings ratio of 142.50, a P/E/G ratio of 3.71 and a beta of 1.47. Wix.com has a 52-week low of $76.90 and a 52-week high of $178.65.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. The business had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. During the same period last year, the company posted $0.58 EPS. The company’s revenue was up 11.7% on a year-over-year basis. As a group, equities analysts anticipate that Wix.com will post 1.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Wix.com

Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank bought a new position in Wix.com in the 4th quarter worth approximately $34,554,000. Renaissance Technologies LLC grew its stake in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after purchasing an additional 171,500 shares in the last quarter. Capital Fund Management S.A. increased its holdings in shares of Wix.com by 1,378.7% during the fourth quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock valued at $19,739,000 after purchasing an additional 149,605 shares during the period. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Wix.com by 328.5% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock valued at $22,144,000 after purchasing an additional 137,991 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Wix.com by 10.7% in 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. Institutional investors and hedge funds own 81.52% of the company’s stock.

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; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.