Franklin Resources Inc. cut its holdings in shares of Wix.Com Ltd (NASDAQ:WIX) by 8.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 598,080 shares of the information services provider’s stock after selling 52,153 shares during the period. Franklin Resources Inc.’s holdings in Wix.Com were worth $71,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new stake in shares of Wix.Com in the 2nd quarter valued at approximately $104,000. Advisory Services Network LLC purchased a new stake in shares of Wix.Com in the 2nd quarter valued at approximately $115,000. Fortis Advisors LLC purchased a new stake in shares of Wix.Com in the 2nd quarter valued at approximately $150,000. Global X Management Co LLC purchased a new stake in shares of Wix.Com in the 2nd quarter valued at approximately $181,000. Finally, Cumberland Partners Ltd purchased a new stake in shares of Wix.Com in the 2nd quarter valued at approximately $201,000. Institutional investors own 85.91% of the company’s stock.
Several analysts have recently weighed in on the stock. SunTrust Banks increased their price target on shares of Wix.Com to $145.00 and gave the company a “buy” rating in a research note on Thursday, September 27th. Wedbush reissued an “outperform” rating and issued a $123.00 price target on shares of Wix.Com in a research note on Thursday, September 13th. Zacks Investment Research lowered shares of Wix.Com from a “buy” rating to a “hold” rating in a report on Tuesday, September 18th. ValuEngine lowered shares of Wix.Com from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 2nd. Finally, BidaskClub upgraded shares of Wix.Com from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 11th. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Wix.Com presently has an average rating of “Buy” and an average target price of $104.24.
Wix.Com stock opened at $93.98 on Thursday. The company has a market cap of $4.42 billion, a price-to-earnings ratio of -93.98 and a beta of 1.80. Wix.Com Ltd has a 52-week low of $50.90 and a 52-week high of $121.45. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 2.49.
Wix.Com (NASDAQ:WIX) last released its earnings results on Tuesday, November 13th. The information services provider reported $0.39 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.49. The company had revenue of $155.60 million for the quarter, compared to analyst estimates of $152.78 million. Wix.Com had a negative net margin of 6.80% and a negative return on equity of 38.70%. The firm’s quarterly revenue was up 40.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Equities analysts expect that Wix.Com Ltd will post -0.49 earnings per share for the current fiscal year.
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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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