BidaskClub Upgrades Wix.Com (WIX) to Strong-Buy

BidaskClub upgraded shares of Wix.Com (NASDAQ:WIX) from a buy rating to a strong-buy rating in a report issued on Friday.

Several other equities analysts have also commented on the stock. Zacks Investment Research lowered shares of Wix.Com from a buy rating to a hold rating in a research report on Tuesday, September 18th. SunTrust Banks increased their price objective on shares of Wix.Com to $145.00 and gave the stock a buy rating in a research report on Thursday, September 27th. Wedbush reissued an outperform rating and issued a $123.00 price objective on shares of Wix.Com in a research report on Thursday, September 13th. Barclays increased their price objective on shares of Wix.Com from $87.00 to $115.00 and gave the stock an overweight rating in a research report on Monday, July 23rd. Finally, Oppenheimer increased their price objective on shares of Wix.Com from $105.00 to $125.00 and gave the stock an outperform rating in a research report on Thursday, July 26th. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $105.38.

WIX stock traded down $2.45 on Friday, hitting $95.00. 624,327 shares of the company were exchanged, compared to its average volume of 619,164. Wix.Com has a twelve month low of $50.90 and a twelve month high of $121.45. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 2.76.

Wix.Com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, July 25th. The information services provider reported $0.29 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.49. Wix.Com had a negative net margin of 9.07% and a negative return on equity of 104.11%. The firm had revenue of $146.10 million during the quarter, compared to analyst estimates of $144.76 million. The company’s revenue for the quarter was up 40.6% compared to the same quarter last year. Equities analysts predict that Wix.Com will post -0.57 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in Wix.Com by 18.8% during the 2nd quarter. BlackRock Inc. now owns 1,346,901 shares of the information services provider’s stock valued at $135,094,000 after purchasing an additional 213,621 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Wix.Com by 32.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,193,410 shares of the information services provider’s stock valued at $119,698,000 after purchasing an additional 289,190 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Wix.Com by 83,610.2% during the 1st quarter. Summit Trail Advisors LLC now owns 647,080 shares of the information services provider’s stock valued at $647,000 after purchasing an additional 646,307 shares in the last quarter. Grandeur Peak Global Advisors LLC grew its holdings in Wix.Com by 2.0% during the 2nd quarter. Grandeur Peak Global Advisors LLC now owns 389,402 shares of the information services provider’s stock valued at $39,057,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in Wix.Com by 2,633.1% during the 1st quarter. Millennium Management LLC now owns 339,228 shares of the information services provider’s stock valued at $26,986,000 after purchasing an additional 326,816 shares in the last quarter. 88.01% of the stock is owned by 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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