Wix.Com (NASDAQ:WIX) received a $85.00 price target from KeyCorp in a research report issued on Wednesday. The firm currently has a “buy” rating on the information services provider’s stock. KeyCorp’s price objective would suggest a potential upside of 18.55% from the company’s current price.
The analysts wrote, “We believe the best is still ahead as the business scales past a $1B run-rate exiting 2020, with free cash flow expanding at an even faster pace. We believe 2018 has some good things in store and would build positions in this high-quality franchise. We are raising our price target to $85 and our bull case to $110. Key Investment Points Strong close to the year; ACPS drives upside. Wix posted $4.5M upside to collections on 35% growth and free-cash-flow upside on 16% margin. Additionally, existing cohorts continued to convert at very high rates, an encouraging sign of things to come. The expanded Google relationship adds some new sizzle to the story, opening up the door for even more partnership in the future. The disclosure for 140,000 Wix Code users vs. 7,000 just one quarter ago was particularly impressive to us and shows very nice progress on what should be a very important product.””
WIX has been the topic of a number of other reports. SunTrust Banks restated a “buy” rating and set a $73.00 target price on shares of Wix.Com in a research report on Monday, November 6th. Royal Bank of Canada restated a “hold” rating and set a $80.00 target price on shares of Wix.Com in a research report on Wednesday, November 8th. Raymond James Financial upgraded shares of Wix.Com from a “market perform” rating to a “strong-buy” rating and set a $74.00 target price on the stock in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of Wix.Com from a “sell” rating to a “hold” rating in a research report on Saturday, January 13th. Finally, BidaskClub upgraded shares of Wix.Com from a “strong sell” rating to a “sell” rating in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. Wix.Com has an average rating of “Buy” and an average price target of $77.20.
Shares of Wix.Com (NASDAQ:WIX) traded up $6.15 on Wednesday, hitting $71.70. 3,292,254 shares of the stock were exchanged, compared to its average volume of 586,793. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3,260.00, a price-to-earnings ratio of -56.46 and a beta of 2.15. Wix.Com has a twelve month low of $50.90 and a twelve month high of $86.15.
Large investors have recently bought and sold shares of the stock. Advisor Group Inc. lifted its holdings in Wix.Com by 196.5% in the second quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock valued at $207,000 after acquiring an additional 1,965 shares during the period. ARK Investment Management LLC acquired a new stake in Wix.Com in the fourth quarter valued at $215,000. Parametrica Management Ltd acquired a new stake in Wix.Com in the fourth quarter valued at $246,000. Legal & General Group Plc lifted its holdings in Wix.Com by 51.4% in the third quarter. Legal & General Group Plc now owns 5,600 shares of the information services provider’s stock valued at $402,000 after acquiring an additional 1,900 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Wix.Com in the third quarter valued at $417,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.
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Wix.Com Company Profile
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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