Cantor Fitzgerald reiterated their overweight rating on shares of Wix.com (NASDAQ:WIX – Free Report) in a research note published on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $200.00 price target on the information services provider’s stock.
A number of other analysts also recently issued reports on WIX. Wells Fargo & Company raised Wix.com from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $173.00 to $216.00 in a research note on Monday. Jefferies Financial Group cut their target price on Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Barclays raised their target price on Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Citigroup cut their target price on Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 target price on shares of Wix.com in a research note on Wednesday, May 21st. Three investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $228.95.
Check Out Our Latest Research Report on Wix.com
Wix.com Stock Performance
Wix.com declared that its Board of Directors has approved a share repurchase plan on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
Hedge Funds Weigh In On Wix.com
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. raised its stake in Wix.com by 63.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after buying an additional 66 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of Wix.com during the first quarter worth about $29,000. Geneos Wealth Management Inc. increased its position in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after purchasing an additional 215 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Wix.com by 36.0% during the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Wix.com during the fourth quarter worth about $52,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.
About Wix.com
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.
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