Wix.com Ltd. (WIX) Downgraded to Sell at BidaskClub

BidaskClub lowered shares of Wix.com Ltd. (NASDAQ:WIX) from a hold rating to a sell rating in a report issued on Wednesday, August 9th.

Several other research firms have also commented on WIX. Zacks Investment Research lowered shares of Wix.com from a hold rating to a sell rating in a report on Tuesday, May 9th. Barclays PLC reissued a buy rating and set a $77.00 target price on shares of Wix.com in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $88.00 target price (up from $70.00) on shares of Wix.com in a research note on Friday, May 12th. CIBC increased their target price on shares of Wix.com from $70.00 to $88.00 and gave the stock an outperform rating in a research note on Monday, May 15th. Finally, Royal Bank Of Canada restated a hold rating and set a $59.00 price target on shares of Wix.com in a research report on Friday, April 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $71.68.

Wix.com (NASDAQ WIX) traded up 0.59% during trading on Wednesday, hitting $60.15. The stock had a trading volume of 603,010 shares. Wix.com has a 52-week low of $37.94 and a 52-week high of $86.15. The firm’s market cap is $2.73 billion. The company’s 50 day moving average is $66.98 and its 200 day moving average is $68.95.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings data on Thursday, July 27th. The information services provider reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.16. The firm had revenue of $103.50 million for the quarter, compared to analysts’ expectations of $101.93 million. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Wix.com’s revenue was up 50.7% on a year-over-year basis. Equities research analysts forecast that Wix.com will post $0.25 earnings per share for the current year.

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A number of large investors have recently made changes to their positions in the company. Westpac Banking Corp bought a new stake in shares of Wix.com during the first quarter valued at approximately $137,000. BT Investment Management Ltd bought a new stake in shares of Wix.com during the second quarter valued at approximately $141,000. Eqis Capital Management Inc. acquired a new position in Wix.com during the second quarter worth approximately $207,000. Advisor Group Inc. raised its position in Wix.com by 196.5% in the second quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock worth $207,000 after buying an additional 1,965 shares in the last quarter. Finally, First Mercantile Trust Co. acquired a new position in Wix.com during the first quarter worth approximately $220,000. Hedge funds and other institutional investors own 79.12% of the company’s stock.

About Wix.com

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.

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