Wix.com (NASDAQ:WIX) Downgraded by StockNews.com

Wix.com (NASDAQ:WIXGet Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

Other equities analysts also recently issued research reports about the stock. Citigroup reduced their price target on shares of Wix.com from $120.00 to $91.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Evercore ISI reduced their price target on shares of Wix.com from $145.00 to $105.00 and set a “na” rating for the company in a report on Tuesday, May 17th. Bank of America reduced their price target on shares of Wix.com from $320.00 to $200.00 and set a “buy” rating for the company in a report on Thursday, February 17th. Morgan Stanley downgraded shares of Wix.com from an “overweight” rating to an “equal weight” rating and set a $85.00 price target for the company. in a report on Friday. Finally, JMP Securities reduced their price objective on shares of Wix.com from $250.00 to $140.00 and set a “market outperform” 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $145.12.

WIX stock traded down $0.42 during trading on Monday, hitting $66.93. 1,554,745 shares of the company’s stock traded hands, compared to its average volume of 1,277,856. The company has a quick ratio of 1.79, a current ratio of 1.58 and a debt-to-equity ratio of 6.33. Wix.com has a 52 week low of $56.24 and a 52 week high of $309.00. The stock has a fifty day moving average price of $84.96 and a two-hundred day moving average price of $116.80. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of -13.36 and a beta of 1.56.

Wix.com (NASDAQ:WIXGet Rating) last released its earnings results on Monday, May 16th. The information services provider reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($1.75) by $1.03. Wix.com had a negative net margin of 21.70% and a negative return on equity of 136.41%. The firm had revenue of $341.60 million during the quarter, compared to analyst estimates of $340.47 million. During the same quarter in the previous year, the firm earned ($1.36) earnings per share. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, equities research analysts expect that Wix.com will post -5.24 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of WIX. CWM LLC acquired a new position in shares of Wix.com in the 4th quarter valued at about $44,000. Parallel Advisors LLC increased its holdings in shares of Wix.com by 73.3% in the 4th 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. UMB Bank N A MO acquired a new position in shares of Wix.com in the 4th quarter valued at about $47,000. Lindbrook Capital LLC increased its holdings in shares of Wix.com by 207.0% in the 1st quarter. Lindbrook Capital LLC now owns 482 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 325 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Wix.com by 105.1% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 640 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 328 shares during the period. Hedge funds and other 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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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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