Wix.com Ltd. (NASDAQ:WIX) Receives $96.75 Consensus Target Price from Analysts

Shares of Wix.com Ltd. (NASDAQ:WIX) have received an average recommendation of “Moderate Buy” from the twenty-two analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $96.70.

WIX has been the topic of several research reports. Oppenheimer cut their price target on Wix.com from $115.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings lowered shares of Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Morgan Stanley dropped their target price on shares of Wix.com from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Cantor Fitzgerald cut their target price on shares of Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada reduced their price target on shares of Wix.com from $60.00 to $45.00 and set a “sector perform” rating for the company in a report on Tuesday, June 9th.

Wix.com Stock Down 0.8%

Shares of NASDAQ:WIX opened at $52.79 on Friday. The business’s 50 day moving average is $51.61 and its 200 day moving average is $71.29. The stock has a market cap of $3.08 billion, a P/E ratio of -67.68 and a beta of 0.93. Wix.com has a 52-week low of $40.16 and a 52-week high of $190.93.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.53). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The firm had revenue of $541.17 million for the quarter, compared to the consensus estimate of $544.04 million. During the same period last year, the firm earned $1.69 earnings per share. The company’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, sell-side analysts anticipate that Wix.com will post -0.17 EPS for the current fiscal year.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently bought and sold shares of the business. Ameriprise Financial Inc. increased its holdings in shares of Wix.com by 128.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after acquiring an additional 2,606,204 shares during the period. Senvest Management LLC lifted its stake in shares of Wix.com by 24.8% during the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock worth $338,184,000 after purchasing an additional 746,200 shares during the last quarter. Hsbc Holdings PLC boosted its position in Wix.com by 11,894.0% during the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock valued at $318,676,000 after purchasing an additional 3,500,047 shares in the last quarter. Wellington Management Group LLP boosted its position in Wix.com by 90.4% during the third quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after purchasing an additional 1,609,989 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in Wix.com by 57.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after purchasing an additional 578,729 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.