Wix.com Ltd. (WIX) Upgraded to “Buy” at BidaskClub

Wix.com Ltd. (NASDAQ:WIX) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Wednesday, September 20th.

WIX has been the subject of a number of other reports. KeyCorp initiated coverage on shares of Wix.com in a research report on Sunday, July 23rd. They issued an “overweight” rating and a $88.00 price objective for the company. Zacks Investment Research cut shares of Wix.com from a “hold” rating to a “sell” rating in a research report on Friday, August 18th. Royal Bank Of Canada reissued a “hold” rating on shares of Wix.com in a research report on Friday, July 28th. Wedbush initiated coverage on shares of Wix.com in a research report on Thursday, June 22nd. They issued an “outperform” rating and a $86.00 price objective for the company. Finally, SunTrust Banks, Inc. initiated coverage on shares of Wix.com in a research report on Tuesday, August 15th. They issued a “buy” rating and a $73.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $74.87.

Wix.com (WIX) opened at 71.85 on Wednesday. The firm has a 50-day moving average price of $62.78 and a 200 day moving average price of $70.11. The stock’s market capitalization is $3.26 billion. Wix.com has a 12 month low of $38.65 and a 12 month high of $86.15.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Thursday, July 27th. The information services provider reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.16). The firm had revenue of $103.50 million during the quarter, compared to analyst estimates of $101.93 million. During the same period last year, the firm posted ($0.09) EPS. The firm’s revenue was up 50.7% on a year-over-year basis. Equities analysts anticipate that Wix.com will post $0.23 earnings per share for the current year.

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Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westpac Banking Corp acquired a new stake in Wix.com during the first quarter worth about $137,000. BT Investment Management Ltd acquired a new stake in Wix.com during the second quarter worth about $141,000. Advisor Group Inc. raised its stake in Wix.com by 196.5% during the second quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock worth $207,000 after acquiring an additional 1,965 shares during the period. Eqis Capital Management Inc. acquired a new stake in Wix.com during the second quarter worth about $207,000. Finally, Legal & General Group Plc raised its stake in Wix.com by 500.0% during the first quarter. Legal & General Group Plc now owns 3,600 shares of the information services provider’s stock worth $245,000 after acquiring an additional 3,000 shares during the period. Hedge funds and other institutional investors own 69.96% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.

Analyst Recommendations for Wix.com (NASDAQ:WIX)

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