Wix.com (NASDAQ:WIX) had its target price raised by Needham & Company LLC to $98.00 in a research note published on Monday, The Fly reports. The brokerage currently has a buy rating on the information services provider’s stock. The analysts noted that the move was a valuation call.
A number of other brokerages have also issued reports on WIX. Northland Securities reissued a buy rating and issued a $95.00 price objective on shares of Wix.com in a report on Wednesday, April 18th. Zacks Investment Research raised shares of Wix.com from a hold rating to a buy rating and set a $96.00 price objective for the company in a report on Friday, April 20th. KeyCorp upped their price objective on shares of Wix.com from $85.00 to $103.00 and gave the company an overweight rating in a report on Sunday, March 18th. Goldman Sachs assumed coverage on shares of Wix.com in a report on Friday, March 23rd. They issued a neutral rating and a $93.00 price objective for the company. Finally, SunTrust Banks reissued a buy rating and issued a $80.00 price objective on shares of Wix.com in a report on Wednesday, May 9th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Wix.com currently has an average rating of Buy and an average price target of $86.36.
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Shares of WIX opened at $84.25 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.03. Wix.com has a 12-month low of $84.05 and a 12-month high of $88.80.
Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, May 9th. The information services provider reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.36. Wix.com had a negative net margin of 11.72% and a negative return on equity of 376.10%. The firm had revenue of $137.80 million during the quarter, compared to analyst estimates of $135.74 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. Wix.com’s quarterly revenue was up 49.0% on a year-over-year basis. research analysts anticipate that Wix.com will post -0.55 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in WIX. ARK Investment Management LLC purchased a new position in Wix.com during the fourth quarter worth about $215,000. M&T Bank Corp acquired a new stake in shares of Wix.com during the first quarter worth about $222,000. Parametrica Management Ltd acquired a new stake in shares of Wix.com during the fourth quarter worth about $246,000. Comerica Bank acquired a new stake in shares of Wix.com during the first quarter worth about $277,000. Finally, Teza Capital Management LLC acquired a new stake in shares of Wix.com during the first quarter worth about $301,000. 79.68% of the stock is 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.