Wix.Com (NASDAQ:WIX) Now Covered by Citigroup

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Equities research analysts at Citigroup began coverage on shares of Wix.Com (NASDAQ:WIX) in a research note issued to investors on Wednesday, December 19th, MarketBeat reports. The brokerage set a “buy” rating on the information services provider’s stock.

A number of other equities research analysts also recently weighed in on WIX. Wedbush reiterated an “outperform” rating and issued a $123.00 price target on shares of Wix.Com in a report on Thursday, September 13th. Oppenheimer lowered their price target on Wix.Com from $125.00 to $113.00 and set an “outperform” rating for the company in a report on Wednesday, November 14th. KeyCorp lowered their price target on Wix.Com from $133.00 to $122.00 and set an “overweight” rating for the company in a report on Wednesday, November 14th. Barclays lowered their price target on Wix.Com from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Wednesday, November 14th. Finally, ValuEngine downgraded Wix.Com from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Wix.Com currently has a consensus rating of “Buy” and an average target price of $105.81.

Wix.Com stock traded up $1.40 during midday trading on Wednesday, hitting $101.29. 567,378 shares of the company were exchanged, compared to its average volume of 529,964. The company has a debt-to-equity ratio of 2.49, a quick ratio of 2.24 and a current ratio of 2.24. Wix.Com has a fifty-two week low of $55.80 and a fifty-two week high of $121.45. The firm has a market capitalization of $4.60 billion, a PE ratio of -101.29 and a beta of 1.56.

Wix.Com (NASDAQ:WIX) last posted its quarterly earnings data on Tuesday, November 13th. The information services provider reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.49. Wix.Com had a negative return on equity of 38.70% and a negative net margin of 6.80%. The company had revenue of $155.60 million for the quarter, compared to the consensus estimate of $152.78 million. During the same period in the previous year, the business earned $0.01 EPS. Wix.Com’s revenue for the quarter was up 40.2% compared to the same quarter last year. On average, analysts forecast that Wix.Com will post -0.49 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC lifted its holdings in shares of Wix.Com by 14.8% in the third quarter. Renaissance Technologies LLC now owns 1,652,950 shares of the information services provider’s stock valued at $197,858,000 after buying an additional 212,845 shares during the period. BlackRock Inc. lifted its holdings in shares of Wix.Com by 9.8% in the third quarter. BlackRock Inc. now owns 1,479,454 shares of the information services provider’s stock valued at $177,090,000 after buying an additional 132,553 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Wix.Com by 5.9% in the third quarter. Clearbridge Investments LLC now owns 1,213,454 shares of the information services provider’s stock valued at $145,250,000 after buying an additional 67,793 shares during the period. SQN Investors LP lifted its holdings in shares of Wix.Com by 3.5% in the third quarter. SQN Investors LP now owns 621,209 shares of the information services provider’s stock valued at $74,359,000 after buying an additional 21,275 shares during the period. Finally, Grandeur Peak Global Advisors LLC lifted its holdings in shares of Wix.Com by 2.0% in the second quarter. Grandeur Peak Global Advisors LLC now owns 389,402 shares of the information services provider’s stock valued at $39,057,000 after buying an additional 7,500 shares during the period. Institutional investors own 85.90% of the company’s stock.

Wix.Com Company Profile

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

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Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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