Wix.com (NASDAQ:WIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a research note released on Saturday morning,Wall Street Zen reports.

A number of other research firms also recently commented on WIX. Morgan Stanley downgraded Wix.com from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $112.00 to $60.00 in a research note on Tuesday, July 21st. Wedbush upped their price objective on Wix.com from $55.00 to $80.00 and gave the company a “neutral” rating in a research note on Thursday, August 20th. UBS Group set a $110.00 target price on Wix.com in a report on Monday, October 26th. Benchmark reiterated a “buy” rating on shares of Wix.com in a research report on Wednesday, August 26th. Finally, Citigroup reiterated a “neutral” rating on shares of Wix.com in a report on Wednesday, August 12th. Eleven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $93.43.

Wix.com Stock Down 2.8%

WIX opened at $74.95 on Friday. The firm’s fifty day moving average price is $78.33 and its 200 day moving average price is $70.57. Wix.com has a 12-month low of $40.16 and a 12-month high of $146.36.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Tuesday, August 4th. The information services provider reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.26. The firm had revenue of $563.06 million for the quarter, compared to the consensus estimate of $552.56 million. Wix.com had a negative net margin of 8.19% and a negative return on equity of 1.61%. The firm’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.28 EPS. As a group, research analysts predict that Wix.com will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other Wix.com news, CMO Omer Shai acquired 490 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average price of $59.89 per share, for a total transaction of $29,346.10. Following the completion of the purchase, the chief marketing officer directly owned 515,879 shares in the company, valued at $30,895,993.31. The trade was a 0.10% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ron Gutler sold 5,718 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $85.42, for a total transaction of $488,431.56. Following the completion of the transaction, the director directly owned 15,631 shares in the company, valued at $1,335,200.02. This represents a 26.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders acquired 2,622 shares of company stock worth $157,032. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently made changes to their positions in the stock. Hsbc Holdings PLC boosted its holdings in shares of Wix.com by 11,894.0% during the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after acquiring an additional 3,500,047 shares during the period. Senvest Management LLC grew its position in shares of Wix.com by 24.8% during the first quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock worth $338,184,000 after acquiring an additional 746,200 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after acquiring an additional 685,614 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Wix.com by 57.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock worth $142,848,000 after acquiring an additional 578,729 shares during the period. Finally, Renaissance Technologies LLC increased its holdings in shares of Wix.com by 52.1% in the 1st quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after acquiring an additional 197,200 shares during the period. 81.52% of the stock is owned by institutional investors.

About Wix.com

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.