Wix.Com (NASDAQ:WIX) Raised to “Buy” at BidaskClub

BidaskClub upgraded shares of Wix.Com (NASDAQ:WIX) from a hold rating to a buy rating in a report published on Saturday, BidAskClub reports.

A number of other research analysts have also recently issued reports on the company. Rosenblatt Securities reiterated a sell rating and issued a $73.00 target price on shares of Wix.Com in a research report on Friday, May 17th. Wedbush lifted their target price on Wix.Com from $152.00 to $180.00 and gave the company an outperform rating in a research report on Thursday, July 25th. Zacks Investment Research upgraded Wix.Com from a strong sell rating to a hold rating and set a $122.00 target price on the stock in a research report on Saturday, July 20th. Citigroup lifted their price target on Wix.Com from $125.00 to $155.00 and gave the company a buy rating in a research note on Friday, May 17th. Finally, Royal Bank of Canada lifted their price target on Wix.Com to $166.00 and gave the company an outperform rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Wix.Com has a consensus rating of Buy and a consensus target price of $135.06.

Shares of NASDAQ WIX opened at $143.24 on Friday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.02. Wix.Com has a 52 week low of $80.20 and a 52 week high of $155.75. The company has a market capitalization of $7.14 billion, a PE ratio of -325.55 and a beta of 1.48. The stock has a fifty day moving average of $145.12.

Wix.Com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, July 24th. The information services provider reported ($0.21) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.38) by $0.17. Wix.Com had a negative return on equity of 21.60% and a negative net margin of 8.70%. The company had revenue of $185.40 million for the quarter, compared to analysts’ expectations of $183.92 million. During the same quarter last year, the business earned $0.29 earnings per share. Wix.Com’s revenue was up 26.9% on a year-over-year basis. Research analysts anticipate that Wix.Com will post -1.31 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in shares of Wix.Com by 20.9% in the first quarter. Quadrant Capital Group LLC now owns 463 shares of the information services provider’s stock worth $54,000 after acquiring an additional 80 shares during the period. Security National Trust Co. acquired a new position in shares of Wix.Com in the first quarter worth approximately $60,000. Highstreet Asset Management Inc. acquired a new position in shares of Wix.Com in the first quarter worth approximately $60,000. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Wix.Com in the fourth quarter worth approximately $63,000. Finally, First Quadrant L P CA acquired a new position in shares of Wix.Com in the first quarter worth approximately $76,000. 85.74% of the stock is currently owned by hedge funds and other institutional investors.

About Wix.Com

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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Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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