Wix.Com (NASDAQ:WIX) Trading Up 5.7%

Wix.Com Ltd (NASDAQ:WIX)’s share price was up 5.7% on Thursday . The company traded as high as $270.00 and last traded at $269.45. Approximately 547,145 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 828,928 shares. The stock had previously closed at $254.85.

A number of analysts have weighed in on WIX shares. Royal Bank of Canada reissued a “buy” rating on shares of Wix.Com in a report on Monday, August 10th. Deutsche Bank increased their price target on shares of Wix.Com from $220.00 to $342.00 in a report on Monday, August 10th. TheStreet raised shares of Wix.Com from a “d” rating to a “c-” rating in a report on Friday, August 21st. JMP Securities increased their price target on shares of Wix.Com from $210.00 to $363.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Finally, SunTrust Banks increased their price target on shares of Wix.Com from $215.00 to $290.00 and gave the company a “buy” rating in a report on Monday, June 29th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $293.94.

The firm has a market cap of $13.44 billion, a price-to-earnings ratio of -104.44 and a beta of 1.63. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.46 and a current ratio of 1.46. The business’s 50-day moving average is $269.15 and its 200-day moving average is $214.90.

Wix.Com (NASDAQ:WIX) last announced its earnings results on Thursday, August 6th. The information services provider reported ($0.26) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.16. The business had revenue of $236.10 million during the quarter, compared to analysts’ expectations of $233.21 million. Wix.Com had a negative net margin of 15.92% and a negative return on equity of 46.89%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. Equities research analysts expect that Wix.Com Ltd will post -3.2 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of WIX. Amundi Pioneer Asset Management Inc. grew its holdings in Wix.Com by 202.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 2,111 shares of the information services provider’s stock worth $255,000 after acquiring an additional 1,413 shares during the last quarter. Public Employees Retirement Association of Colorado grew its holdings in Wix.Com by 22.0% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 16,825 shares of the information services provider’s stock worth $1,696,000 after acquiring an additional 3,032 shares during the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Wix.Com by 49.2% in the 1st quarter. Russell Investments Group Ltd. now owns 7,416 shares of the information services provider’s stock valued at $754,000 after purchasing an additional 2,447 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Wix.Com by 73.2% in the 1st quarter. Ensign Peak Advisors Inc now owns 10,793 shares of the information services provider’s stock valued at $1,088,000 after purchasing an additional 4,560 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of Wix.Com by 13.4% in the 1st quarter. Commonwealth Equity Services LLC now owns 3,937 shares of the information services provider’s stock valued at $396,000 after purchasing an additional 465 shares during the last quarter. 91.71% of the stock is currently owned by hedge funds and other institutional investors.

About Wix.Com (NASDAQ:WIX)

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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