Royal Bank of Canada Increases Wix.com Ltd. (WIX) Price Target to $31.00

Wix.com Ltd. (NASDAQ:WIX) had its price objective increased by Royal Bank of Canada from $30.00 to $31.00 in a report published on Thursday, May 11th. The firm currently has a sector perform rating on the information services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Wix.com from a hold rating to a sell rating in a research note on Wednesday, January 11th. Needham & Company LLC reiterated a buy rating and set a $55.00 price objective on shares of Wix.com in a research note on Friday, January 13th. Barclays PLC began coverage on shares of Wix.com in a research note on Tuesday, March 28th. They set an overweight rating and a $80.00 price objective for the company. Cantor Fitzgerald reissued an overweight rating and set a $56.00 target price on shares of Wix.com in a research report on Monday, February 13th. Finally, Citigroup Inc. started coverage on shares of Wix.com in a research report on Monday, March 27th. They set a neutral rating and a $68.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $65.85.

Wix.com (NASDAQ WIX) opened at 69.25 on Thursday. The stock’s market cap is $3.10 billion. Wix.com has a 12 month low of $26.31 and a 12 month high of $86.15. The stock’s 50 day moving average price is $75.25 and its 200-day moving average price is $62.90.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, May 10th. The information services provider reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by $0.14. The company had revenue of $92.50 million for the quarter, compared to analysts’ expectations of $90.15 million. During the same period last year, the firm posted ($0.30) EPS. The business’s revenue for the quarter was up 50.2% compared to the same quarter last year. Equities analysts expect that Wix.com will post $0.36 EPS for the current year.

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Institutional investors have recently made changes to their positions in the stock. Grandeur Peak Global Advisors LLC raised its position in shares of Wix.com by 12.3% in the third quarter. Grandeur Peak Global Advisors LLC now owns 406,875 shares of the information services provider’s stock worth $17,671,000 after buying an additional 44,700 shares in the last quarter. Cetera Advisors LLC acquired a new position in Wix.com during the third quarter valued at $413,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Wix.com by 172.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 175,917 shares of the information services provider’s stock valued at $7,640,000 after buying an additional 111,363 shares during the period. Jane Street Group LLC raised its position in Wix.com by 896.5% in the third quarter. Jane Street Group LLC now owns 17,125 shares of the information services provider’s stock valued at $744,000 after buying an additional 19,275 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Wix.com during the third quarter valued at $3,528,000. Hedge funds and other institutional investors own 77.35% of the company’s stock.

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.

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