Northland Securities Initiates Coverage on Wix.Com (NASDAQ:WIX)

Stock analysts at Northland Securities assumed coverage on shares of Wix.Com (NASDAQ:WIX) in a note issued to investors on Friday, Stock Target Advisor reports. The firm set a “buy” rating and a $160.00 price target on the information services provider’s stock. Northland Securities’ target price suggests a potential upside of 22.73% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. Zacks Investment Research raised Wix.Com from a “strong sell” rating to a “hold” rating and set a $122.00 price target on the stock in a report on Saturday, July 20th. Barclays lowered their price target on Wix.Com from $170.00 to $150.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. BidaskClub raised Wix.Com from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 30th. Royal Bank of Canada boosted their price target on Wix.Com to $166.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, ValuEngine cut Wix.Com from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $144.93.

Shares of WIX traded up $5.17 during trading hours on Friday, hitting $130.37. The company had a trading volume of 866,800 shares, compared to its average volume of 535,237. The firm has a fifty day moving average price of $122.80 and a 200-day moving average price of $135.97. The stock has a market capitalization of $6.24 billion, a price-to-earnings ratio of -296.30 and a beta of 1.51. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.93 and a current ratio of 1.93. Wix.Com has a 52-week low of $80.20 and a 52-week high of $155.75.

Wix.Com (NASDAQ:WIX) last announced its quarterly earnings data on Thursday, November 14th. The information services provider reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.75. The company had revenue of $196.79 million during the quarter, compared to the consensus estimate of $197.70 million. Wix.Com had a negative return on equity of 25.42% and a negative net margin of 9.80%. The firm’s revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 EPS. Research analysts anticipate that Wix.Com will post -1.22 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Massachusetts Financial Services Co. MA raised its holdings in Wix.Com by 80.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,474,817 shares of the information services provider’s stock valued at $172,169,000 after buying an additional 659,367 shares during the period. Soroban Capital Partners LP purchased a new stake in Wix.Com during the 2nd quarter valued at $79,923,000. Allianz Asset Management GmbH purchased a new stake in Wix.Com during the 2nd quarter valued at $37,539,000. Coatue Management LLC purchased a new stake in Wix.Com during the 2nd quarter valued at $25,280,000. Finally, Nuveen Asset Management LLC raised its holdings in Wix.Com by 347.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 130,116 shares of the information services provider’s stock valued at $18,490,000 after buying an additional 101,060 shares during the period. 85.32% of the stock is currently owned by institutional investors and hedge funds.

Wix.Com Company Profile

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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