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

Wix.com Ltd. (NASDAQ:WIX) has been given an average recommendation of “Moderate Buy” by the twenty-two research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $128.70.

WIX has been the topic of a number of research analyst reports. Robert W. Baird downgraded Wix.com from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $115.00 to $90.00 in a research note on Monday, March 9th. Oppenheimer decreased their price target on Wix.com from $160.00 to $130.00 and set an “outperform” rating for the company in a research report on Monday, February 2nd. Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Wall Street Zen downgraded Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, Citizens Jmp decreased their target price on Wix.com from $185.00 to $125.00 and set a “market outperform” rating for the company in a research report on Thursday, January 22nd.

Wix.com Price Performance

WIX opened at $81.95 on Friday. Wix.com has a fifty-two week low of $60.22 and a fifty-two week high of $191.24. The firm has a market capitalization of $4.78 billion, a P/E ratio of 101.17, a PEG ratio of 3.12 and a beta of 1.26. The company’s 50-day moving average is $81.40 and its 200 day moving average is $108.43.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.36 by $0.45. The business had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.10 EPS. On average, equities research analysts expect that Wix.com will post 3.65 earnings per share for the current year.

Wix.com declared that its board has authorized a stock buyback plan on Wednesday, January 28th that authorizes the company to buyback $2.00 billion in shares. This buyback authorization authorizes the information services provider to reacquire up to 40.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Wix.com

Several hedge funds have recently added to or reduced their stakes in WIX. AQR Capital Management LLC increased its stake in shares of Wix.com by 36.6% during the 1st quarter. AQR Capital Management LLC now owns 1,627 shares of the information services provider’s stock worth $266,000 after purchasing an additional 436 shares during the last quarter. Woodline Partners LP lifted its stake in Wix.com by 9.7% in the first quarter. Woodline Partners LP now owns 2,292 shares of the information services provider’s stock valued at $374,000 after purchasing an additional 202 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 215 shares during the period. Cetera Investment Advisers grew its holdings in Wix.com by 18.9% during the second quarter. Cetera Investment Advisers now owns 1,853 shares of the information services provider’s stock valued at $294,000 after purchasing an additional 295 shares during the period. Finally, American Century Companies Inc. increased its position in Wix.com by 29.5% in the second quarter. American Century Companies Inc. now owns 6,930 shares of the information services provider’s stock worth $1,098,000 after buying an additional 1,580 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

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.