Wix.com Ltd. (NASDAQ:WIX) Receives $238.89 Consensus PT from Analysts

Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus rating of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, fifteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $238.89.

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised shares of Wix.com from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $169.00 to $176.00 in a research note on Tuesday, April 8th. Citigroup raised their price target on shares of Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, February 20th. Scotiabank assumed coverage on Wix.com in a report on Wednesday, March 5th. They set a “sector outperform” rating and a $250.00 price objective on the stock. Cfra Research downgraded Wix.com from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, April 15th. Finally, Benchmark upped their price objective on shares of Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Thursday, February 20th.

Wix.com Stock Performance

Wix.com stock opened at $159.76 on Friday. The business has a fifty day moving average of $179.43 and a two-hundred day moving average of $196.47. The company has a market cap of $8.96 billion, a P/E ratio of 67.98, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. Wix.com has a one year low of $117.58 and a one year high of $247.11.

Wix.com declared that its board has authorized a stock buyback plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Newbridge Financial Services Group Inc. acquired a new position in Wix.com during the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC boosted its holdings in Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 89 shares during the period. Global Retirement Partners LLC grew its position in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Wix.com in the fourth quarter worth about $52,000. Finally, Blue Trust Inc. boosted its stake in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.