Wix.com Ltd. (NASDAQ:WIX) Receives Consensus Rating of “Moderate Buy” from Analysts

Wix.com Ltd. (NASDAQ:WIXGet Rating) has received a consensus recommendation of “Hold” from the nineteen brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $108.13.

A number of research analysts have weighed in on WIX shares. Oppenheimer upgraded Wix.com from a “market perform” rating to an “outperform” rating and set a $110.00 price objective on the stock in a report on Thursday, September 29th. Needham & Company LLC raised their price objective on Wix.com from $85.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 11th. Morgan Stanley raised their price objective on Wix.com from $81.00 to $94.00 and gave the company an “equal weight” rating in a report on Friday, November 11th. Piper Sandler raised their price objective on Wix.com from $78.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, November 11th. Finally, Royal Bank of Canada upgraded Wix.com from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $100.00 in a report on Thursday.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $83.10 on Friday. Wix.com has a 1 year low of $53.12 and a 1 year high of $142.34. The firm has a market capitalization of $4.76 billion, a price-to-earnings ratio of -9.64 and a beta of 1.14. The business’s 50 day moving average price is $81.09 and its 200-day moving average price is $74.76.

Wix.com (NASDAQ:WIXGet Rating) last announced its earnings results on Thursday, November 10th. The information services provider reported ($0.81) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.96) by $0.15. Wix.com had a negative return on equity of 333.40% and a negative net margin of 36.51%. The firm had revenue of $345.81 million for the quarter, compared to analyst estimates of $343.17 million. On average, sell-side analysts expect that Wix.com will post -4.67 earnings per share for the current year.

Institutional Trading of Wix.com

Hedge funds and other institutional investors have recently modified their holdings of the business. Baillie Gifford & Co. grew its position in Wix.com by 113.8% in the 2nd quarter. Baillie Gifford & Co. now owns 8,091,917 shares of the information services provider’s stock valued at $530,426,000 after acquiring an additional 4,306,991 shares in the last quarter. First Trust Advisors LP grew its position in Wix.com by 22,397.5% in the 1st quarter. First Trust Advisors LP now owns 690,449 shares of the information services provider’s stock valued at $72,124,000 after acquiring an additional 687,380 shares in the last quarter. Shenkman Capital Management Inc. acquired a new position in Wix.com in the 2nd quarter valued at about $411,000. Eminence Capital LP grew its position in Wix.com by 29.7% in the 2nd quarter. Eminence Capital LP now owns 1,612,396 shares of the information services provider’s stock valued at $105,693,000 after acquiring an additional 369,651 shares in the last quarter. Finally, Clearline Capital LP acquired a new position in Wix.com in the 3rd quarter valued at about $23,336,000. 91.90% of the stock is owned by institutional investors and hedge funds.

Wix.com Company Profile

(Get Rating)

Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables anyone to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs; and Corvid by Wix to create websites and web applications.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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