Wix.Com (WIX) PT Raised to $154.00

Wix.Com (NASDAQ:WIX) had its price objective hoisted by equities research analysts at SunTrust Banks to $154.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the information services provider’s stock. SunTrust Banks’ target price would suggest a potential upside of 13.49% from the company’s current price.

The analysts wrote, “We believe Wix’s large and growing user base, its best-in-class freemium offering and robust suite of products and services should allow the company to sustain its above-market growth rates for the foreseeable future. Sizable (500bps+) boost to 2020 growth from increased investment into with momentum in Ascend should be incremental growth drivers for years to come. Valuation/Risks. WIX trades at ~10x EV/Revs our CY19 estimates. Our $154 PT is derived using a 7-yr DCF. Risks: Economic slowdown, increase in competition, and/or deterioration in key operating metrics (subscriber growth, churn, ARPU).””

WIX has been the subject of several other reports. Rosenblatt Securities lowered Wix.Com from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $75.00 to $73.00 in a research note on Wednesday, February 20th. KeyCorp started coverage on Wix.Com in a research note on Monday, April 29th. They set a “sector weight” rating for the company. Zacks Investment Research lowered Wix.Com from a “hold” rating to a “sell” rating in a research note on Wednesday, March 13th. Macquarie started coverage on Wix.Com in a research note on Wednesday, March 27th. They set a “neutral” rating and a $116.00 price objective for the company. Finally, Raymond James lowered Wix.Com from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $123.88.

Shares of WIX stock traded down $0.90 during trading hours on Friday, reaching $135.70. 18,191 shares of the company’s stock were exchanged, compared to its average volume of 728,919. Wix.Com has a fifty-two week low of $80.20 and a fifty-two week high of $143.82. The firm has a market cap of $6.81 billion, a PE ratio of -307.86 and a beta of 1.70. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 2.23.

Wix.Com (NASDAQ:WIX) last issued its quarterly earnings results on Thursday, May 16th. The information services provider reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.30. Wix.Com had a negative return on equity of 20.54% and a negative net margin of 7.51%. The company had revenue of $174.29 million during the quarter, compared to analyst estimates of $172.98 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. As a group, equities analysts predict that Wix.Com will post -0.49 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its position in Wix.Com by 20.9% in the 1st quarter. Quadrant Capital Group LLC now owns 463 shares of the information services provider’s stock valued at $54,000 after buying an additional 80 shares during the last quarter. Flagship Harbor Advisors LLC grew its stake in Wix.Com by 21.9% in the fourth quarter. Flagship Harbor Advisors LLC now owns 618 shares of the information services provider’s stock valued at $55,000 after purchasing an additional 111 shares in the last quarter. Fifth Third Bancorp grew its stake in Wix.Com by 60.7% in the first quarter. Fifth Third Bancorp now owns 479 shares of the information services provider’s stock valued at $58,000 after purchasing an additional 181 shares in the last quarter. Security National Trust Co. bought a new position in Wix.Com in the first quarter valued at approximately $60,000. Finally, Highstreet Asset Management Inc. bought a new position in Wix.Com in the first quarter valued at approximately $60,000. 83.99% of the stock is currently owned by institutional investors.

About Wix.Com

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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