Wix.Com Ltd (NASDAQ:WIX) shares traded down 7.9% during mid-day trading on Monday . The company traded as low as $100.34 and last traded at $100.59. 1,315,803 shares were traded during trading, an increase of 114% from the average session volume of 615,417 shares. The stock had previously closed at $109.27.
A number of research analysts have issued reports on the stock. BidaskClub downgraded shares of Wix.Com from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. Rosenblatt Securities assumed coverage on shares of Wix.Com in a research report on Monday, July 30th. They set a “neutral” rating and a $78.00 price objective on the stock. SunTrust Banks boosted their price objective on shares of Wix.Com to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. ValuEngine downgraded shares of Wix.Com from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, Zacks Investment Research raised shares of Wix.Com from a “hold” rating to a “buy” rating and set a $109.00 price objective on the stock in a research report on Tuesday, July 31st. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Wix.Com currently has an average rating of “Buy” and a consensus price target of $105.38.
The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of -106.79 and a beta of 1.67. The company has a debt-to-equity ratio of 2.76, a quick ratio of 2.00 and a current ratio of 2.00.
Wix.Com (NASDAQ:WIX) last released its earnings results on Wednesday, July 25th. The information services provider reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.49. The firm had revenue of $146.10 million for the quarter, compared to the consensus estimate of $144.76 million. Wix.Com had a negative net margin of 9.07% and a negative return on equity of 104.11%. Wix.Com’s quarterly revenue was up 40.6% compared to the same quarter last year. As a group, analysts predict that Wix.Com Ltd will post -0.57 EPS for the current year.
Several large investors have recently added to or reduced their stakes in WIX. Envestnet Asset Management Inc. purchased a new stake in Wix.Com during the 2nd quarter valued at about $104,000. Advisory Services Network LLC purchased a new stake in Wix.Com during the 2nd quarter valued at about $115,000. Fortis Advisors LLC purchased a new stake in Wix.Com during the 2nd quarter valued at about $150,000. Global X Management Co LLC purchased a new stake in Wix.Com during the 2nd quarter valued at about $181,000. Finally, Cumberland Partners Ltd purchased a new stake in Wix.Com during the 2nd quarter valued at about $201,000. 88.01% 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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