Wix.Com (WIX) Cut to “Hold” at ValuEngine

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ValuEngine downgraded shares of Wix.Com (NASDAQ:WIX) from a buy rating to a hold rating in a research report released on Thursday.

A number of other equities analysts have also commented on the stock. JMP Securities cut their price objective on shares of Wix.Com from $125.00 to $112.00 and set a market outperform rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Wix.Com from $108.00 to $100.00 and set a neutral rating on the stock in a report on Wednesday. Barclays cut their price objective on shares of Wix.Com from $125.00 to $115.00 and set an overweight rating on the stock in a report on Wednesday. KeyCorp cut their price objective on shares of Wix.Com from $133.00 to $122.00 and set an overweight rating on the stock in a report on Wednesday. Finally, Oppenheimer cut their target price on shares of Wix.Com from $125.00 to $113.00 and set an outperform rating on the stock in a research note on Wednesday. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Wix.Com presently has an average rating of Buy and an average target price of $104.24.

Shares of WIX stock opened at $96.60 on Thursday. Wix.Com has a 12 month low of $50.90 and a 12 month high of $121.45. The company has a debt-to-equity ratio of 2.49, a current ratio of 2.24 and a quick ratio of 2.00.

Wix.Com (NASDAQ:WIX) last issued its quarterly earnings data on Tuesday, November 13th. The information services provider reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.49. Wix.Com had a negative net margin of 6.80% and a negative return on equity of 38.70%. The firm had revenue of $155.60 million for the quarter, compared to analyst estimates of $152.78 million. During the same quarter in the previous year, the business posted $0.01 EPS. The firm’s revenue was up 40.2% compared to the same quarter last year. Equities research analysts anticipate that Wix.Com will post -0.49 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TIAA CREF Investment Management LLC raised its stake in Wix.Com by 34.3% during the third quarter. TIAA CREF Investment Management LLC now owns 32,244 shares of the information services provider’s stock worth $3,860,000 after acquiring an additional 8,234 shares during the period. Symmetry Peak Management LLC raised its stake in Wix.Com by 270.0% during the third quarter. Symmetry Peak Management LLC now owns 18,500 shares of the information services provider’s stock worth $2,214,000 after acquiring an additional 13,500 shares during the period. Sylebra HK Co Ltd acquired a new stake in Wix.Com during the third quarter worth about $29,969,000. Caxton Associates LP acquired a new stake in Wix.Com during the third quarter worth about $240,000. Finally, Vident Investment Advisory LLC acquired a new stake in Wix.Com during the third quarter worth about $667,000. Hedge funds and other institutional investors own 88.35% of the company’s stock.

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.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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