Wix.com (NASDAQ:WIX) Lowered to Sell at StockNews.com

StockNews.com lowered shares of Wix.com (NASDAQ:WIXGet Rating) from a hold rating to a sell rating in a research report sent to investors on Thursday.

A number of other analysts have also recently commented on WIX. Morgan Stanley cut Wix.com from an overweight rating to an equal weight rating and set a $85.00 price target for the company. in a research report on Friday, May 20th. Atlantic Securities cut Wix.com from an overweight rating to a neutral rating and set a $100.00 price objective for the company. in a report on Tuesday, March 1st. Guggenheim cut Wix.com from a buy rating to a neutral rating in a report on Wednesday, February 16th. Benchmark assumed coverage on Wix.com in a report on Wednesday, April 13th. They issued a hold rating for the company. Finally, Bank of America decreased their price objective on Wix.com from $320.00 to $200.00 and set a buy rating for the company in a report on Thursday, February 17th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Wix.com currently has an average rating of Hold and an average price target of $142.61.

Shares of WIX opened at $58.18 on Thursday. The stock has a 50-day moving average of $72.74 and a two-hundred day moving average of $103.64. Wix.com has a one year low of $53.12 and a one year high of $309.00. The company has a debt-to-equity ratio of 6.33, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market cap of $3.33 billion, a P/E ratio of -11.61 and a beta of 1.57.

Wix.com (NASDAQ:WIXGet Rating) last issued its quarterly earnings results on Monday, May 16th. The information services provider reported ($1.61) EPS for the quarter, topping analysts’ consensus estimates of ($1.75) by $0.14. Wix.com had a negative return on equity of 136.41% and a negative net margin of 21.70%. The company had revenue of $341.60 million during the quarter, compared to analysts’ expectations of $340.47 million. During the same quarter in the previous year, the firm posted ($1.36) EPS. The firm’s revenue was up 12.3% compared to the same quarter last year. Analysts predict that Wix.com will post -5.43 EPS for the current fiscal year.

A number of large investors have recently bought and sold shares of the business. Neuberger Berman Group LLC increased its stake in Wix.com by 55.0% during the 1st quarter. Neuberger Berman Group LLC now owns 25,482 shares of the information services provider’s stock worth $2,662,000 after buying an additional 9,040 shares in the last quarter. Worldquant Millennium Advisors LLC increased its stake in Wix.com by 2,197.3% during the 1st quarter. Worldquant Millennium Advisors LLC now owns 76,984 shares of the information services provider’s stock worth $8,042,000 after buying an additional 73,633 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Wix.com by 72.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,376 shares of the information services provider’s stock worth $144,000 after buying an additional 577 shares in the last quarter. Quantamental Technologies LLC purchased a new stake in Wix.com during the 1st quarter worth approximately $467,000. Finally, Steadfast Capital Management LP increased its stake in Wix.com by 4,365.6% during the 1st quarter. Steadfast Capital Management LP now owns 613,578 shares of the information services provider’s stock worth $64,094,000 after buying an additional 599,838 shares in the last quarter. Institutional investors own 89.89% of the company’s stock.

About Wix.com (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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