Wix.Com (NASDAQ:WIX) Given New $161.00 Price Target at Royal Bank of Canada

Wix.Com (NASDAQ:WIX) had its price target decreased by Royal Bank of Canada from $166.00 to $161.00 in a research report report published on Friday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the information services provider’s stock.

A number of other research firms have also weighed in on WIX. BidaskClub upgraded Wix.Com from a strong sell rating to a sell rating in a research report on Wednesday, October 30th. ValuEngine lowered Wix.Com from a strong-buy rating to a buy rating in a research report on Wednesday, October 2nd. Barclays decreased their price target on Wix.Com from $170.00 to $150.00 and set an overweight rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on Wix.Com from $152.00 to $149.00 and set a neutral rating for the company in a research report on Friday. Finally, Northland Securities assumed coverage on Wix.Com in a research report on Friday. They issued a buy rating and a $160.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $144.93.

WIX stock traded up $5.17 during mid-day trading on Friday, reaching $130.37. The company had a trading volume of 866,800 shares, compared to its average volume of 443,137. The stock’s 50-day simple moving average is $122.80 and its two-hundred day simple moving average is $135.97. The stock has a market capitalization of $6.77 billion, a P/E ratio of -296.30 and a beta of 1.51. Wix.Com has a one year low of $80.20 and a one year high of $155.75. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 2.02.

Wix.Com (NASDAQ:WIX) last released its earnings results on Thursday, November 14th. The information services provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.75. The firm had revenue of $196.79 million for the quarter, compared to analyst estimates of $197.70 million. Wix.Com had a negative return on equity of 21.60% and a negative net margin of 8.70%. Wix.Com’s revenue was up 26.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.39 earnings per share. On average, research analysts forecast that Wix.Com will post -1.22 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in Wix.Com by 7.1% during the 2nd quarter. Janus Henderson Group PLC now owns 679,235 shares of the information services provider’s stock worth $96,519,000 after acquiring an additional 44,927 shares during the period. Envestnet Asset Management Inc. boosted its position in Wix.Com by 15.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 8,898 shares of the information services provider’s stock worth $1,264,000 after acquiring an additional 1,178 shares during the period. Riverhead Capital Management LLC boosted its position in Wix.Com by 75.0% during the 2nd quarter. Riverhead Capital Management LLC now owns 350 shares of the information services provider’s stock worth $50,000 after acquiring an additional 150 shares during the period. ETF Managers Group LLC boosted its position in Wix.Com by 8.5% during the 2nd quarter. ETF Managers Group LLC now owns 34,029 shares of the information services provider’s stock worth $4,796,000 after acquiring an additional 2,656 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in Wix.Com by 57.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 21,169 shares of the information services provider’s stock worth $2,471,000 after acquiring an additional 7,741 shares during the period. Hedge funds and other institutional investors own 85.32% of the company’s stock.

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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Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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