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

Wix.com Ltd. (NASDAQ:WIX) has been assigned an average rating of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $134.90.

A number of brokerages have recently weighed in on WIX. Wells Fargo & Company lowered their target price on Wix.com from $176.00 to $137.00 and set an “overweight” rating on the stock in a research note on Thursday, March 5th. Jefferies Financial Group decreased their price objective on Wix.com from $200.00 to $130.00 and set a “buy” rating on the stock in a report on Monday, February 23rd. Evercore lowered their price objective on Wix.com from $250.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Morgan Stanley dropped their target price 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, Citizens Jmp reduced their target price on shares of 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.

Institutional Trading of Wix.com

A number of institutional investors have recently bought and sold shares of WIX. Westside Investment Management Inc. increased its holdings in shares of Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Wix.com by 7.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock valued at $172,000 after buying an additional 120 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after buying an additional 132 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Wix.com by 2.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock worth $693,000 after buying an additional 142 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in Wix.com by 18.7% during the fourth quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider’s stock worth $98,000 after buying an additional 148 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

Shares of WIX opened at $88.09 on Monday. The firm has a market cap of $5.14 billion, a P/E ratio of 108.75, a price-to-earnings-growth ratio of 2.83 and a beta of 1.40. Wix.com has a 52 week low of $60.22 and a 52 week high of $191.24. The firm’s 50-day simple moving average is $81.63 and its 200 day simple moving average is $114.11.

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 the consensus estimate of $1.36 by $0.45. Wix.com had a net margin of 2.54% and a negative return on equity of 70.04%. The firm had revenue of $524.27 million during the quarter, compared to the consensus estimate of $527.69 million. During the same period last year, the business posted $2.10 earnings per share. The business’s revenue for the quarter was up 13.9% compared to the same quarter last year. As a group, equities analysts forecast that Wix.com will post 3.65 earnings per share for the current year.

Wix.com declared that its board has approved a share repurchase program on Wednesday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 40.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are 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.