Wix.com (NASDAQ:WIX) Cut to Sell at StockNews.com – Defense World

Wix.com (NASDAQ:WIX) Cut to Sell at StockNews.com – Defense World

Wix.com (NASDAQ:WIX – Get Rating) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Several other analysts also recently issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Wix.com in a report on Wednesday, June 29th. Benchmark assumed coverage on Wix.com in a research note on Wednesday, April 13th. They set a “hold” rating on the stock. Piper Sandler cut Wix.com from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $105.00 to $78.00 in a research note on Monday, April 25th. Truist Financial lowered their target price on Wix.com from $170.00 to $120.00 in a research note on Tuesday, May 17th. Finally, Jefferies Financial Group lowered their target price on Wix.com from $115.00 to $100.00 in a research note on Tuesday, May 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Wix.com presently has an average rating of “Hold” and an average price target of $139.94.

Wix.com Stock Performance

Shares of WIX opened at $65.85 on Thursday. The company has a market cap of $3.77 billion, a price-to-earnings ratio of -13.14 and a beta of 1.34. The firm has a fifty day moving average of $63.15 and a 200-day moving average of $82.59. Wix.com has a 1 year low of $53.12 and a 1 year high of $299.26. The company has a debt-to-equity ratio of 6.33, a quick ratio of 1.58 and a current ratio of 1.58.

Wix.com (NASDAQ:WIX – Get Rating) last posted its quarterly earnings data on Monday, May 16th. The information services provider reported ($1.61) earnings per share for the quarter, topping the consensus estimate of ($1.75) by $0.14. The business had revenue of $341.60 million during the quarter, compared to the consensus estimate of $340.47 million. Wix.com had a negative net margin of 21.70% and a negative return on equity of 136.41%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.36) earnings per share. As a group, equities analysts anticipate that Wix.com will post -5.36 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CIBC Private Wealth Group LLC lifted its position in Wix.com by 84.7% in the second quarter. CIBC Private Wealth Group LLC now owns 50,227 shares of the information services provider’s stock worth $3,293,000 after purchasing an additional 23,040 shares during the period. Ibex Investors LLC bought a new position in shares of Wix.com during the second quarter valued at $4,824,000. Nisa Investment Advisors LLC bought a new position in shares of Wix.com during the second quarter valued at $767,000. Treasurer of the State …….

Source: https://www.defenseworld.net/2022/08/04/wix-com-nasdaqwix-cut-to-sell-at-stocknews-com.html