Wix.com Ltd. (NASDAQ:WIX) was downgraded by investment analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a note issued to investors on Wednesday. They currently have a $50.00 target price on the stock, up from their previous target price of $46.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 10.40% from the stock’s current price.

A number of other brokerages also recently commented on WIX. Summit Redstone began coverage on Wix.com in a research report on Wednesday, September 7th. They set a “buy” rating and a $48.00 price objective for the company. RBC Capital Markets boosted their price objective on Wix.com from $35.00 to $45.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Deutsche Bank AG reissued a “buy” rating and set a $33.00 price objective on shares of Wix.com in a research report on Thursday, June 9th. Bank of America Corp. reissued a “buy” rating and set a $33.00 price objective on shares of Wix.com in a research report on Thursday, June 9th. Finally, Zacks Investment Research downgraded Wix.com from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $39.18.

Analyst Recommendations for Wix.com (NASDAQ:WIX)

Wix.com (NASDAQ:WIX) opened at 45.29 on Wednesday. Wix.com has a 52-week low of $14.79 and a 52-week high of $49.49. The firm’s 50-day moving average is $40.83 and its 200-day moving average is $29.78. The stock’s market capitalization is $1.86 billion.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, July 27th. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.03. The company earned $68.70 million during the quarter, compared to the consensus estimate of $66.69 million. Wix.com had a negative return on equity of 1,997.56% and a negative net margin of 22.58%. Wix.com’s revenue was up 41.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. Analysts predict that Wix.com will post ($0.47) earnings per share for the current year.

A number of large investors have recently modified their holdings of the stock. FMR LLC boosted its stake in shares of Wix.com by 1.4% in the second quarter. FMR LLC now owns 3,896,582 shares of the company’s stock worth $118,261,000 after buying an additional 54,669 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Wix.com by 16.1% in the second quarter. Baillie Gifford & Co. now owns 1,308,682 shares of the company’s stock worth $39,718,000 after buying an additional 181,146 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Wix.com by 348.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,135,625 shares of the company’s stock worth $34,467,000 after buying an additional 882,463 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Wix.com by 35.8% in the first quarter. Renaissance Technologies LLC now owns 883,800 shares of the company’s stock worth $17,915,000 after buying an additional 232,800 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Wix.com by 2.7% in the second quarter. Vanguard Group Inc. now owns 410,589 shares of the company’s stock worth $12,461,000 after buying an additional 10,950 shares in the last quarter. Institutional investors own 65.11% 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.

5 Day Chart for NASDAQ:WIX

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