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

Wix.com Ltd. (NASDAQ:WIX) has been assigned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $144.29.

Several research analysts have recently issued reports on WIX shares. Barclays raised their price objective on Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. JMP Securities reissued a “market outperform” rating and issued a $150.00 price target on shares of Wix.com in a report on Tuesday, April 30th. Raymond James initiated coverage on Wix.com in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 target price on the stock. Piper Sandler boosted their price target on shares of Wix.com from $146.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Finally, Royal Bank of Canada boosted their price target on shares of Wix.com from $135.00 to $160.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd.

Institutional Trading of Wix.com

Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale increased its holdings in shares of Wix.com by 5.5% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock valued at $226,000 after acquiring an additional 129 shares during the last quarter. HighMark Wealth Management LLC acquired a new position in Wix.com in the fourth quarter valued at approximately $26,000. Natixis Advisors L.P. grew its holdings in shares of Wix.com by 2.0% during the fourth quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock valued at $1,350,000 after purchasing an additional 214 shares during the last quarter. Northwest Bank & Trust Co acquired a new position in shares of Wix.com during the fourth quarter valued at $26,000. Finally, Fidelis Capital Partners LLC bought a new position in Wix.com in the 1st quarter worth about $37,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Up 1.8 %

Shares of NASDAQ:WIX opened at $122.14 on Friday. The stock has a market cap of $6.80 billion, a P/E ratio of 222.07, a price-to-earnings-growth ratio of 4.12 and a beta of 1.34. The business’s 50 day moving average is $132.03 and its 200 day moving average is $119.35. Wix.com has a 52-week low of $73.39 and a 52-week high of $146.21.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The business had revenue of $403.80 million for the quarter, compared to analysts’ expectations of $416.87 million. During the same period last year, the business earned ($0.42) EPS. The company’s revenue was up 13.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Wix.com will post 1.16 EPS for the current fiscal year.

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.