Wix.com (NASDAQ:WIX) Cut to “Underweight” at Piper Sandler

Wix.com (NASDAQ:WIX – Get Rating) was downgraded by research analysts at Piper Sandler from a “neutral” rating to an “underweight” rating in a note issued to investors on Monday, The Fly reports.

Several other research firms also recently weighed in on WIX. Wolfe Research cut their target price on Wix.com from $200.00 to $150.00 and set an “outperform” rating on the stock in a research report on Thursday, February 17th. Guggenheim cut Wix.com from a “buy” rating to a “neutral” rating in a report on Wednesday, February 16th. Needham & Company LLC dropped their price objective on Wix.com from $175.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, February 17th. Citigroup assumed coverage on Wix.com in a report on Tuesday, April 19th. They issued a “buy” rating and a $120.00 target price for the company. Finally, Benchmark assumed coverage on Wix.com in a report on Wednesday, April 13th. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $173.12.

NASDAQ:WIX opened at $82.98 on Monday. The company has a debt-to-equity ratio of 6.33, a current ratio of 1.79 and a quick ratio of 1.79. Wix.com has a 1 year low of $70.70 and a 1 year high of $329.00. The stock’s 50 day simple moving average is $90.16 and its two-hundred day simple moving average is $134.54. The company has a market cap of $4.75 billion, a price-to-earnings ratio of -25.77 and a beta of 1.44.

Wix.com (NASDAQ:WIX – Get Rating) last released its quarterly earnings data on Wednesday, February 16th. The information services provider reported ($1.35) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($1.35). Wix.com had a negative return on equity of 94.76% and a negative net margin of 14.03%. The business had revenue of $328.30 million for the quarter, compared to the consensus estimate of $332.80 million. During the same quarter in the previous year, the company posted ($0.80) EPS. The company’s revenue was up 16.2% compared to the same quarter last year. As a group, analysts anticipate that Wix.com will post -5.53 EPS for the current year.

Hedge funds have recently made changes to their positions in the company. Sandy Spring Bank increased its holdings in shares of Wix.com by 70.2% in the third quarter. Sandy Spring Bank now owns 160 shares of the information services provider’s stock valued at $32,000 after purchasing an additional 66 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Wix.com by 5,261.5% in the third quarter. First Horizon Advisors Inc. now owns 697 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 684 shares during the period. CWM LLC acquired a new position in shares of Wix.com in the fourth quarter valued at about $44,000. Parallel Advisors LLC increased its holdings in shares of Wix.com by 73.3% in the fourth quarter. Parallel Advisors LLC now owns 298 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 126 shares during the period. Finally, UMB Bank N A MO purchased a new stake in shares of Wix.com in the fourth quarter worth about $47,000. 89.47% of the stock is currently owned by institutional investors and hedge funds.

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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