Wix.com (NASDAQ:WIX) Cut to Hold at StockNews.com

StockNews.com lowered shares of Wix.com (NASDAQ:WIX) from a buy rating to a hold rating in a research note released on Friday morning.

WIX has been the topic of several other research reports. Barclays lifted their price objective on shares of Wix.com from $147.00 to $160.00 and gave the company an overweight rating in a research report on Thursday, February 22nd. UBS Group lifted their price objective on shares of Wix.com from $155.00 to $160.00 and gave the company a buy rating in a research report on Thursday, February 22nd. JMP Securities boosted their price target on shares of Wix.com from $130.00 to $150.00 and gave the stock a market outperform rating in a research report on Wednesday, January 24th. Bank of America restated a buy rating and issued a $126.00 price target on shares of Wix.com in a research report on Friday, December 8th. Finally, Piper Sandler boosted their price target on shares of Wix.com from $146.00 to $165.00 and gave the stock an overweight rating in a research report on Thursday, February 22nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $139.53.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $135.30 on Friday. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21. The company has a market capitalization of $7.53 billion, a P/E ratio of 246.00, a P/E/G ratio of 4.66 and a beta of 1.33. The firm’s 50 day simple moving average is $134.85 and its two-hundred day simple moving average is $113.73.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.24. The firm had revenue of $403.80 million for the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The company’s revenue for the quarter was up 13.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.42) earnings per share. On average, sell-side analysts anticipate that Wix.com will post 1.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. HighMark Wealth Management LLC purchased a new stake in shares of Wix.com during the fourth quarter valued at $26,000. Northwest Bank & Trust Co purchased a new stake in shares of Wix.com during the fourth quarter valued at $26,000. Quarry LP purchased a new stake in shares of Wix.com during the second quarter valued at $29,000. UniSuper Management Pty Ltd purchased a new stake in shares of Wix.com during the second quarter valued at $31,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of Wix.com during the third quarter valued at $37,000. Institutional investors own 81.52% of the company’s stock.

About Wix.com

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; Wix ADI that enables users to have the freedom of customization that the classic editor offers.