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

Wix.com Ltd. (NASDAQ:WIX) has been given an average rating of “Moderate Buy” by the twenty-two analysts that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation, eleven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $97.95.

Several equities analysts recently commented on WIX shares. Wall Street Zen downgraded Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings downgraded Wix.com from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Wells Fargo & Company dropped their price objective on Wix.com from $54.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 9th. Royal Bank Of Canada dropped their price objective on Wix.com from $60.00 to $45.00 and set a “sector perform” rating on the stock in a research note on Tuesday, June 9th. Finally, Cantor Fitzgerald dropped their price objective on Wix.com from $110.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th.

Wix.com Stock Down 2.3%

WIX stock opened at $44.54 on Wednesday. Wix.com has a 12-month low of $42.66 and a 12-month high of $190.93. The business has a 50 day moving average of $63.33 and a 200-day moving average of $79.79. The firm has a market cap of $2.60 billion, a PE ratio of -57.10 and a beta of 0.91.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts’ expectations of $544.04 million. During the same quarter in the previous year, the company posted $1.69 EPS. Wix.com’s revenue for the quarter was up 14.2% on a year-over-year basis. On average, research analysts expect that Wix.com will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently bought and sold shares of WIX. OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Wix.com during the fourth quarter worth $4,087,000. Intech Investment Management LLC purchased a new stake in shares of Wix.com during the third quarter worth $6,179,000. Dream Peak Capital Ltd purchased a new stake in shares of Wix.com during the fourth quarter worth $1,500,000. Massachusetts Financial Services Co. MA lifted its position in shares of Wix.com by 70.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 520,633 shares of the information services provider’s stock worth $54,089,000 after acquiring an additional 214,864 shares in the last quarter. Finally, Lakehouse Capital Pty Ltd lifted its position in shares of Wix.com by 43.1% during the third quarter. Lakehouse Capital Pty Ltd now owns 108,480 shares of the information services provider’s stock worth $19,269,000 after acquiring an additional 32,686 shares in the last quarter. Hedge funds and other 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.