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

Shares of Wix.com Ltd. (NASDAQ:WIX) have been given a consensus recommendation of “Moderate Buy” by the twenty-three research firms that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $162.4286.

A number of equities analysts have issued reports on WIX shares. Cantor Fitzgerald increased their target price on Wix.com from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Thursday, December 11th. Wells Fargo & Company reduced their price objective on Wix.com from $184.00 to $176.00 and set an “overweight” rating for the company in a research report on Friday, December 19th. Scotiabank dropped their target price on Wix.com from $255.00 to $175.00 and set a “sector outperform” rating on the stock in a research report on Thursday, November 20th. Citigroup decreased their price target on shares of Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, UBS Group reiterated an “overweight” rating on shares of Wix.com in a report on Thursday, December 11th.

Hedge Funds Weigh In On Wix.com

Several hedge funds have recently modified their holdings of WIX. ARK Investment Management LLC grew its stake in shares of Wix.com by 24.2% in the fourth quarter. ARK Investment Management LLC now owns 15,517 shares of the information services provider’s stock valued at $1,612,000 after buying an additional 3,023 shares in the last quarter. Inceptionr LLC lifted its stake in Wix.com by 110.6% in the fourth quarter. Inceptionr LLC now owns 5,740 shares of the information services provider’s stock valued at $596,000 after acquiring an additional 3,015 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Wix.com in the 4th quarter valued at about $965,000. Clearbridge Investments LLC increased its stake in shares of Wix.com by 20.4% during the 4th quarter. Clearbridge Investments LLC now owns 1,079,489 shares of the information services provider’s stock worth $112,148,000 after purchasing an additional 183,100 shares during the last quarter. Finally, Havemeyer Place LP bought a new stake in shares of Wix.com in the 4th quarter valued at about $1,425,000. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 4.3%

Shares of WIX stock opened at $72.10 on Thursday. Wix.com has a 12-month low of $70.03 and a 12-month high of $239.73. The firm has a fifty day moving average of $93.54 and a 200-day moving average of $122.45. The company has a market capitalization of $4.05 billion, a price-to-earnings ratio of 30.81, a P/E/G ratio of 2.34 and a beta of 1.42.

Wix.com announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 28th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the information services provider to repurchase up to 40.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management 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.