Zacks Investment Research Reiterates “Sell” Rating for Wix.Com (WIX)

Wix.Com (NASDAQ:WIX)‘s stock had its “sell” rating reiterated by Zacks Investment Research in a note issued to investors on Saturday.

According to Zacks, “Wix.com Ltd. is a cloud-based web development platform. The Company’s platform offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms. Wix.com Ltd. is headquartered in Tel Aviv, Israel. “

Several other analysts also recently issued reports on WIX. BidaskClub raised Wix.Com from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Oppenheimer dropped their price target on Wix.Com from $88.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, November 9th. KeyCorp reissued a “buy” rating and issued a $83.00 price target on shares of Wix.Com in a research note on Sunday, January 21st. Royal Bank of Canada reissued a “sector perform” rating and issued a $78.00 price target (down previously from $80.00) on shares of Wix.Com in a research note on Wednesday, November 22nd. Finally, Barclays dropped their price target on Wix.Com from $77.00 to $65.00 and set an “overweight” rating on the stock in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $77.20.

Shares of Wix.Com (NASDAQ WIX) traded up $1.40 during trading on Friday, reaching $59.65. The company had a trading volume of 667,966 shares, compared to its average volume of 512,925. The firm has a market cap of $2,647.84, a P/E ratio of -48.10 and a beta of 2.16. Wix.Com has a twelve month low of $50.90 and a twelve month high of $86.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86.

Wix.Com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, November 8th. The information services provider reported ($0.28) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.18). The business had revenue of $111.03 million for the quarter, compared to analyst estimates of $109.89 million. Wix.Com had a negative return on equity of 33,346.88% and a negative net margin of 14.27%. equities research analysts predict that Wix.Com will post -1 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in WIX. Advisor Group Inc. grew its holdings in Wix.Com by 196.5% during the second quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock worth $207,000 after purchasing an additional 1,965 shares during the period. Parametrica Management Ltd bought a new position in Wix.Com during the fourth quarter worth about $246,000. SG Americas Securities LLC grew its holdings in Wix.Com by 14.8% during the fourth quarter. SG Americas Securities LLC now owns 6,661 shares of the information services provider’s stock worth $383,000 after purchasing an additional 859 shares during the period. Legal & General Group Plc grew its holdings in Wix.Com by 51.4% during the third quarter. Legal & General Group Plc now owns 5,600 shares of the information services provider’s stock worth $402,000 after purchasing an additional 1,900 shares during the period. Finally, Pier 88 Investment Partners LLC bought a new position in Wix.Com during the fourth quarter worth about $475,000. Institutional investors own 79.06% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This news story was first reported by Sports Perspectives and is owned by of Sports Perspectives. If you are reading this news story on another website, it was stolen and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://sportsperspectives.com/2018/02/10/zacks-investment-research-reiterates-sell-rating-for-wix-com-wix.html.

About Wix.Com

Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.

Get a free copy of the Zacks research report on Wix.Com (WIX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Wix.Com (NASDAQ:WIX)

Receive News & Ratings for Wix.Com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Wix.Com and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply