Wix.com Ltd. (NASDAQ:WIX) Receives $144.29 Average Target Price from Brokerages

Shares of Wix.com Ltd. (NASDAQ:WIX) have been assigned a consensus rating of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $144.29.

A number of equities analysts have recently weighed in on WIX shares. Piper Sandler boosted their target price on Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Needham & Company LLC restated a “buy” rating and issued a $150.00 price objective on shares of Wix.com in a research note on Wednesday, February 21st. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, April 13th. Morgan Stanley reduced their price target on shares of Wix.com from $157.00 to $143.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Finally, UBS Group lifted their price objective on shares of Wix.com from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd.

Wix.com Price Performance

WIX opened at $122.88 on Friday. Wix.com has a 1 year low of $73.39 and a 1 year high of $146.21. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 223.42, a P/E/G ratio of 4.13 and a beta of 1.34. The firm’s fifty day moving average price is $131.32 and its two-hundred day moving average price is $119.39.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.24. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. The company had revenue of $403.80 million for the quarter, compared to analyst estimates of $416.87 million. During the same period last year, the firm earned ($0.42) earnings per share. The firm’s revenue was up 13.7% on a year-over-year basis. As a group, equities analysts anticipate that Wix.com will post 1.16 EPS for the current year.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently made changes to their positions in WIX. HighMark Wealth Management LLC purchased a new stake in Wix.com during the 4th quarter worth about $26,000. Northwest Bank & Trust Co bought a new stake in shares of Wix.com during the fourth quarter valued at about $26,000. BluePath Capital Management LLC purchased a new stake in shares of Wix.com in the third quarter worth about $37,000. Fidelis Capital Partners LLC bought a new position in shares of Wix.com in the first quarter valued at approximately $37,000. Finally, Headlands Technologies LLC purchased a new position in Wix.com during the third quarter valued at approximately $45,000. 81.52% of the stock is owned by institutional investors.

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.