Wix.com (NASDAQ:WIX) Stock Rating Upgraded by Wall Street Zen

Wix.com (NASDAQ:WIX) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research firms have also recently issued reports on WIX. Evercore set a $95.00 target price on Wix.com in a research report on Tuesday, August 4th. Raymond James Financial downgraded Wix.com from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $75.00 to $70.00 in a research note on Thursday, July 30th. Wedbush increased their target price on Wix.com from $55.00 to $80.00 and gave the stock a “neutral” rating in a research note on Thursday, August 20th. UBS Group set a $110.00 price objective on shares of Wix.com in a research note on Monday, October 26th. Finally, Citigroup restated a “neutral” rating on shares of Wix.com in a report on Wednesday, August 12th. Eleven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $93.43.

Wix.com Price Performance

NASDAQ:WIX opened at $77.07 on Friday. The business’s 50-day simple moving average is $78.47 and its two-hundred day simple moving average is $70.65. The stock has a market cap of $4.49 billion, a PE ratio of -21.77, a P/E/G ratio of 36.63 and a beta of 1.06. Wix.com has a 52 week low of $40.16 and a 52 week high of $148.33.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.13 by $0.26. The business had revenue of $563.06 million for the quarter, compared to analyst estimates of $552.56 million. Wix.com had a negative net margin of 8.19% and a negative return on equity of 1.61%. The company’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.28 earnings per share. Sell-side analysts anticipate that Wix.com will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Shelly B. Meyer sold 479 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $95.00, for a total value of $45,505.00. Following the sale, the insider directly owned 183,010 shares in the company, valued at approximately $17,385,950. The trade was a 0.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lior Shemesh bought 456 shares of the business’s stock in a transaction on Monday, August 31st. The stock was acquired at an average cost of $59.89 per share, for a total transaction of $27,309.84. Following the acquisition, the chief financial officer directly owned 221,567 shares of the company’s stock, valued at $13,269,647.63. The trade was a 0.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 2,622 shares of company stock worth $157,032 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC grew its position in shares of Wix.com by 11,894.0% in the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after purchasing an additional 3,500,047 shares during the period. Senvest Management LLC increased its holdings in Wix.com by 24.8% during the first quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after buying an additional 746,200 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in Wix.com by 7,102.6% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after purchasing an additional 685,614 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Wix.com by 57.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after purchasing an additional 578,729 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Wix.com by 52.1% during the first quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after purchasing an additional 197,200 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

About Wix.com

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.