Wix.Com Ltd (WIX) was Reiterated by Needham to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 43 from a previous price target of $30 . Needham advised their investors in a research report released on Jul 28, 2016.
On the company’s financial health, Wix.Com Ltd reported $-0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.12. The company had revenue of $68.70 million for the quarter, compared to analysts expectations of $66.69 million. The company’s revenue was up 41.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.21 EPS.
Wix.Com Ltd closed down -0.61 points or -1.67% at $35.91 with 9,39,911 shares getting traded on Thursday. Post opening the session at $36.5, the shares hit an intraday low of $35.03 and an intraday high of $36.5 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.
Wix.com Ltd. is a Web development platform. The Company develops and markets an Internet service that allows users to create Web content. The Company offers its Web development design and management solutions and apps through an online platform for businesses organizations professionals and individuals. Its Web development technology is built based on HTML5 and offers HTML5 compatible capabilities Web design and layout tools domain hosting and other marketing and work flow management applications and services. By registering with the Company’s Website its users receive access to the Wix Editor an online editor. The Company’s cloud-based platform is accessed through a hosted environment allowing its users to update their site and manage their business or organization at any time.