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

Shares of Wix.com Ltd. (NASDAQ:WIX) have been given a consensus recommendation of “Moderate Buy” by the twenty-three ratings firms that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $162.4286.

Several analysts have recently commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Wix.com in a research note on Wednesday, January 21st. Needham & Company LLC dropped their target price on Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Wells Fargo & Company decreased their price target on Wix.com from $184.00 to $176.00 and set an “overweight” rating on the stock in a report on Friday, December 19th. Morgan Stanley dropped their price objective on Wix.com from $181.00 to $160.00 and set an “overweight” rating for the company in a report on Thursday, January 15th. Finally, Raymond James Financial set a $74.00 target price on shares of Wix.com in a research report on Wednesday, January 7th.

Institutional Trading of Wix.com

Several institutional investors and hedge funds have recently made changes to their positions in WIX. Ameriprise Financial Inc. grew its holdings in Wix.com by 128.3% during the third quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after purchasing an additional 2,606,204 shares during the period. Wellington Management Group LLP raised its stake in Wix.com by 90.4% during the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock worth $602,270,000 after buying an additional 1,609,989 shares during the period. Lone Pine Capital LLC bought a new position in Wix.com during the second quarter worth about $342,485,000. Acadian Asset Management LLC grew its stake in Wix.com by 0.4% in the second quarter. Acadian Asset Management LLC now owns 2,119,805 shares of the information services provider’s stock valued at $335,852,000 after acquiring an additional 7,729 shares during the period. Finally, Senvest Management LLC increased its holdings in shares of Wix.com by 32.2% in the second quarter. Senvest Management LLC now owns 2,040,910 shares of the information services provider’s stock worth $323,403,000 after acquiring an additional 496,770 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 4.3%

Shares of NASDAQ WIX opened at $72.10 on Thursday. Wix.com has a 12-month low of $70.03 and a 12-month high of $239.73. The firm’s 50-day simple moving average is $93.54 and its 200 day simple moving average is $122.45. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 2.34 and a beta of 1.42.

Wix.com declared that its Board of Directors has authorized a stock buyback plan on Wednesday, January 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.