Wix.Com Ltd (WIX) is Downgraded by RBC Capital Mkts to Sector Perform, Price Target at $45

Wix.Com Ltd (WIX) was Downgraded by RBC Capital Mkts to ” Sector Perform” and the brokerage firm has set the Price Target at $45. Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Sep 23, 2016.

Many Wall Street Analysts have commented on Wix.Com Ltd. Wix.Com Ltd was Downgraded by JP Morgan to ” Neutral” on Sep 21, 2016. Company shares were Reiterated by Needham on Jul 28, 2016 to “Buy”, Firm has raised the Price Target to $ 43 from a previous price target of $30 .

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 opened for trading at $44.82 and hit $45.4 on the upside on Thursday, eventually ending the session at $45.29, with a gain of 2.00% or 0.89 points. The heightened volatility saw the trading volume jump to 2,55,352 shares. Company has a market cap of $1,824 M.

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.

Wix.Com Ltd

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