Wix.com (NASDAQ:WIX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Wix.com Ltd. is a cloud-based web development platform. The Company’s platform offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms. Wix.com Ltd. is headquartered in Tel Aviv, Israel. “

WIX has been the subject of a number of other research reports. Raymond James upgraded Wix.com from a “market perform” rating to a “strong-buy” rating and set a $74.00 target price for the company in a report on Thursday, January 4th. SunTrust Banks reiterated a “buy” rating and set a $71.00 target price on shares of Wix.com in a report on Tuesday, February 13th. Citigroup increased their target price on Wix.com from $69.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, February 21st. Needham & Company LLC increased their target price on Wix.com from $70.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 15th. Finally, KeyCorp set a $103.00 target price on Wix.com and gave the stock a “buy” rating in a report on Sunday, March 25th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and three have given a strong buy rating to the stock. Wix.com presently has a consensus rating of “Buy” and a consensus target price of $84.93.

WIX stock opened at $81.65 on Thursday. The stock has a market cap of $3,833.13, a price-to-earnings ratio of -81.65 and a beta of 1.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.88 and a quick ratio of 0.88. Wix.com has a 1 year low of $50.90 and a 1 year high of $89.95.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, February 14th. The information services provider reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.05. The firm had revenue of $118.60 million during the quarter, compared to analysts’ expectations of $116.86 million. Wix.com had a negative return on equity of 1,376.12% and a negative net margin of 13.22%. The company’s revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. sell-side analysts forecast that Wix.com will post -0.55 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Grandeur Peak Global Advisors LLC grew its holdings in shares of Wix.com by 28.0% in the 4th quarter. Grandeur Peak Global Advisors LLC now owns 378,975 shares of the information services provider’s stock valued at $21,810,000 after acquiring an additional 82,875 shares in the last quarter. Compagnie Lombard Odier SCmA grew its holdings in shares of Wix.com by 10.1% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 58,604 shares of the information services provider’s stock valued at $3,376,000 after acquiring an additional 5,379 shares in the last quarter. Meitav Dash Investments Ltd. bought a new position in Wix.com during the fourth quarter worth about $11,880,000. Macquarie Group Ltd. grew its holdings in Wix.com by 37.2% during the fourth quarter. Macquarie Group Ltd. now owns 267,184 shares of the information services provider’s stock worth $15,376,000 after purchasing an additional 72,487 shares during the period. Finally, Millennium Management LLC bought a new position in Wix.com during the fourth quarter worth about $714,000. Institutional investors own 79.93% of the company’s stock.

About Wix.com

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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