Wix.com (NASDAQ:WIX) Price Target Lowered to $75.00 at Royal Bank of Canada

Wix.com (NASDAQ:WIXGet Rating) had its price objective reduced by Royal Bank of Canada from $85.00 to $75.00 in a research note released on Tuesday morning, The Fly reports.

A number of other research analysts have also issued reports on the stock. Atlantic Securities lowered shares of Wix.com from an overweight rating to a neutral rating and set a $100.00 target price for the company. in a research note on Tuesday, March 1st. Citigroup lowered their target price on Wix.com from $120.00 to $91.00 and set a na rating on the stock in a report on Tuesday. JMP Securities decreased their price target on Wix.com from $250.00 to $140.00 and set a market outperform rating for the company in a research report on Thursday, February 17th. Truist Financial decreased their price objective on Wix.com from $290.00 to $170.00 and set a buy rating for the company in a research report on Thursday, February 17th. Finally, Morgan Stanley reduced their price target on Wix.com from $215.00 to $135.00 and set an overweight rating for the company in a report on Thursday, February 17th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Wix.com has an average rating of Hold and an average target price of $145.12.

Shares of WIX opened at $67.35 on Tuesday. The firm has a market capitalization of $3.86 billion, a P/E ratio of -13.44 and a beta of 1.56. The company has a current ratio of 1.58, a quick ratio of 1.79 and a debt-to-equity ratio of 6.33. Wix.com has a twelve month low of $56.24 and a twelve month high of $309.00. The stock’s fifty day simple moving average is $85.18 and its 200 day simple moving average is $118.71.

Wix.com (NASDAQ:WIXGet Rating) last posted its quarterly earnings data on Monday, May 16th. The information services provider reported ($0.72) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.75) by $1.03. The company had revenue of $341.60 million for the quarter, compared to the consensus estimate of $340.47 million. Wix.com had a negative return on equity of 136.41% and a negative net margin of 21.70%. Wix.com’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.36) EPS. Sell-side analysts predict that Wix.com will post -5.24 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Flossbach Von Storch AG raised its holdings in Wix.com by 12.9% during the first quarter. Flossbach Von Storch AG now owns 4,531,581 shares of the information services provider’s stock worth $473,369,000 after buying an additional 517,884 shares during the last quarter. Baillie Gifford & Co. boosted its position in Wix.com by 15.9% during the first quarter. Baillie Gifford & Co. now owns 3,784,926 shares of the information services provider’s stock worth $395,373,000 after purchasing an additional 519,988 shares during the period. Principal Financial Group Inc. boosted its holdings in Wix.com by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 3,034,815 shares of the information services provider’s stock valued at $317,017,000 after purchasing an additional 98,462 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Wix.com by 16.2% in the 3rd quarter. Janus Henderson Group PLC now owns 2,576,976 shares of the information services provider’s stock valued at $505,009,000 after acquiring an additional 359,759 shares in the last quarter. Finally, Dorsey Asset Management LLC lifted its holdings in shares of Wix.com by 5.4% during the 1st quarter. Dorsey Asset Management LLC now owns 1,566,047 shares of the information services provider’s stock worth $163,589,000 after acquiring an additional 80,849 shares during the last quarter. Institutional investors and hedge funds own 89.89% of the company’s stock.

Wix.com Company Profile (Get Rating)

Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications.

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