Analysts Set Wix.com Ltd. (NASDAQ:WIX) Target Price at $226.68

Shares of Wix.com Ltd. (NASDAQ:WIX) have been assigned an average rating of “Moderate Buy” from the twenty-three research firms that are covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and three have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $226.68.

Several brokerages have recently weighed in on WIX. Royal Bank of Canada dropped their price objective on shares of Wix.com from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $250.00 price target on shares of Wix.com in a research note on Wednesday, May 21st. Barclays raised their price objective on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Scotiabank initiated coverage on Wix.com in a research report on Wednesday, March 5th. They issued a “sector outperform” rating and a $250.00 price objective for the company. Finally, Jefferies Financial Group dropped their price objective on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 7th.

Institutional Investors Weigh In On Wix.com

Several 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 purchasing an additional 66 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of Wix.com during the 1st quarter valued at about $29,000. Geneos Wealth Management Inc. lifted its stake in shares of Wix.com by 632.4% in the 1st 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. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com during the 4th quarter valued at $43,000. Finally, Global Retirement Partners LLC grew its holdings in Wix.com by 36.0% in 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 during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Price Performance

Shares of WIX opened at $155.50 on Friday. The firm has a market capitalization of $8.72 billion, a PE ratio of 66.17, a PEG ratio of 2.83 and a beta of 1.31. The company’s 50-day moving average is $161.72 and its 200-day moving average is $193.32. Wix.com has a fifty-two week low of $137.94 and a fifty-two week high of $247.11.

Wix.com announced that its Board of Directors has initiated a stock buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Wix.com Company Profile

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.