Wix.com’s (WIX) Hold (C) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their hold (c) rating on shares of Wix.com (NASDAQ:WIX) in a report issued on Friday morning,Weiss Ratings reports.

Several other research analysts have also recently issued reports on WIX. JPMorgan Chase & Co. dropped their target price on Wix.com from $189.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 11th. Needham & Company LLC cut their target price on shares of Wix.com from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Raymond James Financial reiterated a “strong-buy” rating on shares of Wix.com in a research report on Thursday, August 7th. Finally, Scotiabank set a $255.00 price objective on shares of Wix.com and gave the company a “sector outperform” rating in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $215.37.

Wix.com Stock Up 0.5%

Shares of Wix.com stock opened at $140.91 on Friday. Wix.com has a twelve month low of $114.89 and a twelve month high of $247.11. The company’s 50 day moving average is $150.61 and its 200 day moving average is $153.65. The company has a market cap of $7.91 billion, a price-to-earnings ratio of 50.15, a price-to-earnings-growth ratio of 2.63 and a beta of 1.32.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, August 6th. The information services provider reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.49. The business had revenue of $489.93 million during the quarter, compared to the consensus estimate of $487.62 million. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The firm’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.67 EPS. Sell-side analysts expect that Wix.com will post 3.65 EPS for the current fiscal year.

Wix.com declared that its board has authorized a share buyback program on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of WIX. Northwestern Mutual Wealth Management Co. raised its holdings in Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 66 shares during the period. Twin Tree Management LP purchased a new stake in shares of Wix.com during the first quarter worth about $29,000. Geneos Wealth Management Inc. grew its position in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares in the last quarter. Blue Trust Inc. raised its stake in Wix.com by 47.8% during the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 132 shares during the period. Finally, TD Private Client Wealth LLC lifted its holdings in Wix.com by 183.3% in the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider’s stock worth $78,000 after purchasing an additional 308 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.