RBC Capital Downgrades Wix.Com Ltd to Sector Perform

Brokerage firm RBC Capital Downgrades its rating on Wix.Com Ltd(NASDAQ:WIX). The shares have been rated Sector Perform. Previously, the analysts had a Outperform rating on the shares. The rating by RBC Capital was issued on Sep 23, 2016.

In a different note, On Sep 21, 2016, JP Morgan said it Downgrades its rating on Wix.Com Ltd. In the research note, the firm Raises the price-target to $46.00 per share. The shares have been rated ‘Neutral’ by the firm. Summit Redstone Partners said it Initiates Coverage on Wix.Com Ltd, according to a research note issued on Sep 7, 2016. The shares have been rated ‘Buy’ by the firm. On Jul 28, 2016, Deutsche Bank said it Maintains its rating on Wix.Com Ltd. In the research note, the firm Raises the price-target to $33.00 per share. The shares have been rated ‘Buy’ by the firm. On Jul 28, 2016, Oppenheimer said it Maintains its rating on Wix.Com Ltd. In the research note, the firm Raises the price-target to $37.00 per share. The shares have been rated ‘Outperform’ by the firm.

Wix.Com Ltd (WIX) made into the market gainers list on Tuesdays trading session with the shares advancing 0.89% or 0.39 points. Due to strong positive momentum, the stock ended at $44.08, which is also near the day’s high of $44.19. The stock began the session at $43.79 and the volume stood at 1,46,936 shares. The 52-week high of the shares is $49.49 and the 52 week low is $14.79. The company has a current market capitalization of $1,775 M and it has 4,02,72,846 shares in outstanding.

Wix.Com Ltd(WIX) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $68.73M. Analysts had an estimated revenue of $66.72M. Earnings per share were $-0.09. Analysts had estimated an EPS of $-0.12.

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.

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