Wix.com Ltd. (NASDAQ:WIX) Upgraded to Buy at BidaskClub

Wix.com Ltd. (NASDAQ:WIX) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Tuesday, June 27th.

Several other research firms have also recently weighed in on WIX. Needham & Company LLC restated a “buy” rating and set a $73.00 price target on shares of Wix.com in a report on Thursday, March 2nd. Citigroup Inc. began coverage on shares of Wix.com in a report on Monday, March 27th. They set a “neutral” rating and a $68.00 price target on the stock. Barclays PLC began coverage on shares of Wix.com in a report on Tuesday, March 28th. They set an “overweight” rating and a $80.00 price target on the stock. Cantor Fitzgerald cut shares of Wix.com from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $65.00 to $80.00 in a report on Tuesday, April 11th. Finally, Raymond James Financial, Inc. restated a “market perform” rating on shares of Wix.com in a report on Thursday, April 13th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $67.19.

Shares of Wix.com (WIX) opened at 73.90 on Tuesday. The company has a 50-day moving average of $74.11 and a 200 day moving average of $64.48. Wix.com has a 52 week low of $30.54 and a 52 week high of $86.15. The firm’s market capitalization is $3.30 billion.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, May 10th. The information services provider reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by $0.14. The firm had revenue of $92.50 million for the quarter, compared to the consensus estimate of $90.15 million. Wix.com’s quarterly revenue was up 50.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.30) earnings per share. Equities research analysts anticipate that Wix.com will post $0.38 earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its stake in Wix.com by 18.5% in the first quarter. Oppenheimer & Co. Inc. now owns 6,419 shares of the information services provider’s stock valued at $421,000 after buying an additional 1,004 shares during the period. Analyst IMS Investment Management Services Ltd. raised its stake in Wix.com by 1.1% in the first quarter. Analyst IMS Investment Management Services Ltd. now owns 100,110 shares of the information services provider’s stock valued at $6,726,000 after buying an additional 1,110 shares during the period. Sanctuary Wealth Advisors LLC raised its stake in Wix.com by 2.3% in the first quarter. Sanctuary Wealth Advisors LLC now owns 65,942 shares of the information services provider’s stock worth $4,477,000 after buying an additional 1,466 shares during the period. Westpac Banking Corp purchased a new stake in Wix.com during the first quarter worth $137,000. Finally, Penserra Capital Management LLC raised its stake in Wix.com by 75.0% in the first quarter. Penserra Capital Management LLC now owns 4,886 shares of the information services provider’s stock worth $331,000 after buying an additional 2,094 shares during the period. 77.34% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Wix.com (NASDAQ:WIX)

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