Wix.Com (NASDAQ:WIX) Shares Down 7.7%

Wix.Com Ltd (NASDAQ:WIX)’s share price dropped 7.7% on Thursday . The company traded as low as $123.06 and last traded at $125.20, approximately 2,067,100 shares traded hands during trading. An increase of 243% from the average daily volume of 601,881 shares. The stock had previously closed at $135.70.

WIX has been the topic of a number of research analyst reports. Rosenblatt Securities restated a “sell” rating and set a $93.00 price objective on shares of Wix.Com in a research report on Thursday. Zacks Investment Research upgraded shares of Wix.Com from a “strong sell” rating to a “hold” rating and set a $122.00 price objective on the stock in a research report on Saturday, July 20th. BidaskClub upgraded shares of Wix.Com from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 30th. Barclays lowered their price objective on shares of Wix.Com from $170.00 to $150.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, SunTrust Banks restated a “buy” rating and set a $168.00 price objective on shares of Wix.Com in a research report on Friday, September 27th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company. Wix.Com currently has a consensus rating of “Buy” and an average price target of $138.39.

The company has a debt-to-equity ratio of 2.02, a current ratio of 1.93 and a quick ratio of 1.93. The firm has a market capitalization of $6.35 billion, a P/E ratio of -284.55 and a beta of 1.51. The company’s 50-day simple moving average is $122.50 and its two-hundred day simple moving average is $135.99.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new position in Wix.Com in the second quarter worth approximately $28,000. Coastal Investment Advisors Inc. bought a new position in Wix.Com in the third quarter worth approximately $32,000. Dupont Capital Management Corp bought a new position in Wix.Com in the third quarter worth approximately $47,000. Flinton Capital Management LLC raised its position in Wix.Com by 29.4% in the second quarter. Flinton Capital Management LLC now owns 352 shares of the information services provider’s stock worth $50,000 after acquiring an additional 80 shares during the period. Finally, Riverhead Capital Management LLC raised its position in Wix.Com by 75.0% in the second quarter. Riverhead Capital Management LLC now owns 350 shares of the information services provider’s stock worth $50,000 after acquiring an additional 150 shares during the period. Institutional investors and hedge funds own 85.32% of the company’s stock.

Wix.Com Company Profile (NASDAQ:WIX)

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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