Wix.com (NASDAQ:WIX) Stock Rating Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Wix.com (NASDAQ:WIX) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Several other equities analysts have also recently weighed in on the company. Weiss Ratings raised Wix.com from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 11th. Evercore set a $95.00 target price on Wix.com in a report on Tuesday, August 4th. UBS Group set a $110.00 price target on Wix.com in a research report on Monday, October 26th. Wedbush cut their price target on Wix.com from $80.00 to $75.00 and set a “neutral” rating for the company in a report on Tuesday, November 10th. Finally, Wells Fargo & Company reduced their price objective on Wix.com from $64.00 to $63.00 and set an “equal weight” rating for the company in a research report on Wednesday. Ten equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $89.52.

Wix.com Trading Up 1.9%

WIX traded up $1.27 during trading on Friday, hitting $67.17. The stock had a trading volume of 461,053 shares, compared to its average volume of 866,394. The firm has a market cap of $3.92 billion, a PE ratio of -17.45, a P/E/G ratio of 43.60 and a beta of 1.06. Wix.com has a 12 month low of $40.16 and a 12 month high of $129.40. The company has a 50 day simple moving average of $75.79 and a 200-day simple moving average of $70.00.

Wix.com (NASDAQ:WIX) last released its earnings results on Tuesday, November 10th. The information services provider reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.02. Wix.com had a negative net margin of 8.54% and a negative return on equity of 1.61%. The firm had revenue of $570.17 million during the quarter, compared to analyst estimates of $566.27 million. During the same quarter in the previous year, the business earned $1.80 EPS. The business’s revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Wix.com will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CMO Omer Shai bought 490 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were acquired at an average cost of $59.89 per share, with a total value of $29,346.10. Following the completion of the transaction, the chief marketing officer directly owned 515,879 shares in the company, valued at $30,895,993.31. This represents a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ron Gutler sold 5,718 shares of Wix.com stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.42, for a total value of $488,431.56. Following the sale, the director directly owned 15,631 shares in the company, valued at approximately $1,335,200.02. This trade represents a 26.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have purchased 2,622 shares of company stock valued at $157,032 in the last quarter. 6.20% of the stock is currently owned by insiders.

Institutional Trading of Wix.com

Several institutional investors have recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of Wix.com by 74.1% during the third quarter. Farther Finance Advisors LLC now owns 416 shares of the information services provider’s stock valued at $30,000 after purchasing an additional 177 shares during the period. Versant Capital Management Inc lifted its position in Wix.com by 537.6% in the third quarter. Versant Capital Management Inc now owns 542 shares of the information services provider’s stock worth $39,000 after purchasing an additional 457 shares during the period. Advisors Asset Management Inc. acquired a new stake in Wix.com during the third quarter worth $53,000. Lombard Odier Asset Management USA Corp acquired a new stake in Wix.com during the first quarter worth $210,000. Finally, State of Alaska Department of Revenue acquired a new stake in Wix.com during the third quarter worth $173,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. is a cloud-based platform that enables individuals, businesses and organizations to create and manage websites. Its tools include customizable templates, a visual website editor and hosting, allowing users to build sites without advanced coding skills or develop more customized experiences. The company also offers services for online businesses, including e-commerce features, appointment booking, payments, marketing tools and website analytics. Its products are designed to help customers manage multiple aspects of their online presence through one platform.