KeyCorp reaffirmed their buy rating on shares of Wix.Com (NASDAQ:WIX) in a research note issued to investors on Sunday. They currently have a $83.00 price objective on the information services provider’s stock.
“We remain bullish on the one- to two-year growth prospects for WIX, but would wait until after 2018 guidance is issued before aggressively adding to positions. Key Investment Points Strong showing for 4Q First Look Data. We are publishing our quarterly proprietary First Look Data. KeyBank credit card transactions show a positive inflection in both average collections per subscription (ACPS) and collections data. For the first time, we have analyzed monthly vs. annual subscriber spending levels and saw particularly positive trends for annual users (both mix and ACPS). Vertical application downloads via the Wix App Market also showed a sustained level of sequential growth. These inputs imply that 4Q17 will post healthy upside to expectations. See pages 6-8 for details. We see event risk on initial 2018 guidance.”,” KeyCorp’s analyst wrote.
WIX has been the topic of several other research reports. Oppenheimer reduced their price objective on Wix.Com from $88.00 to $70.00 and set an outperform rating on the stock in a report on Thursday, November 9th. BidaskClub downgraded Wix.Com from a hold rating to a sell rating in a report on Thursday, January 4th. Zacks Investment Research raised Wix.Com from a sell rating to a hold rating in a report on Saturday, January 13th. Wedbush downgraded Wix.Com from an outperform rating to a neutral rating and reduced their price objective for the stock from $86.00 to $65.00 in a report on Thursday, November 9th. Finally, Royal Bank of Canada reaffirmed a sector perform rating and set a $78.00 price objective (down previously from $80.00) on shares of Wix.Com in a report on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $77.20.
Wix.Com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, November 8th. The information services provider reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.18). Wix.Com had a negative return on equity of 33,346.88% and a negative net margin of 14.27%. sell-side analysts anticipate that Wix.Com will post -1 EPS for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Advisor Group Inc. increased its position in shares of Wix.Com by 196.5% in the 2nd quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock valued at $207,000 after buying an additional 1,965 shares in the last quarter. Legal & General Group Plc increased its position in shares of Wix.Com by 2.8% in the 2nd quarter. Legal & General Group Plc now owns 3,700 shares of the information services provider’s stock valued at $258,000 after buying an additional 100 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Wix.Com in the 3rd quarter valued at $417,000. JPMorgan Chase & Co. increased its position in shares of Wix.Com by 379.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,471 shares of the information services provider’s stock valued at $520,000 after buying an additional 5,913 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Wix.Com by 43.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,226 shares of the information services provider’s stock valued at $591,000 after buying an additional 2,492 shares in the last quarter. Institutional investors own 79.26% of the company’s stock.
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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