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

Shares of Wix.com Ltd. (NASDAQ:WIX) have received a consensus rating of “Moderate Buy” from the twenty-two analysts that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $134.90.

A number of research firms recently commented on WIX. Barclays dropped their target price on shares of Wix.com from $205.00 to $160.00 and set an “overweight” rating on the stock in a research report on Thursday, March 5th. Morgan Stanley reduced their price target on shares of Wix.com from $181.00 to $160.00 and set an “overweight” rating for the company in a research report on Thursday, January 15th. Wells Fargo & Company decreased their price objective on shares of Wix.com from $176.00 to $137.00 and set an “overweight” rating for the company in a research note on Thursday, March 5th. Needham & Company LLC cut their target price on Wix.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada reduced their target price on Wix.com from $155.00 to $112.00 and set an “outperform” rating for the company in a report on Thursday, March 5th.

Hedge Funds Weigh In On Wix.com

Hedge funds have recently modified their holdings of the business. Corient Private Wealth LLC increased its holdings in shares of Wix.com by 43.5% in the 4th quarter. Corient Private Wealth LLC now owns 6,548 shares of the information services provider’s stock valued at $680,000 after acquiring an additional 1,985 shares during the period. Avory & Company LLC purchased a new stake in Wix.com in the 4th quarter valued at $359,000. Alberta Investment Management Corp acquired a new stake in Wix.com during the 4th quarter worth $1,039,000. Mackenzie Financial Corp grew its position in Wix.com by 61.2% during the 4th quarter. Mackenzie Financial Corp now owns 16,773 shares of the information services provider’s stock worth $1,731,000 after purchasing an additional 6,366 shares during the last quarter. Finally, Sphera Management Technology Funds Ltd grew its position in Wix.com by 92.3% during the 4th quarter. Sphera Management Technology Funds Ltd now owns 25,000 shares of the information services provider’s stock worth $2,597,000 after purchasing an additional 12,000 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Up 1.4%

WIX stock opened at $88.09 on Monday. The business has a 50 day moving average price of $81.63 and a 200 day moving average price of $114.38. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 108.75, a PEG ratio of 2.79 and a beta of 1.39. Wix.com has a fifty-two week low of $60.22 and a fifty-two week high of $191.24.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, March 4th. The information services provider reported $1.81 EPS for the quarter, beating 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 company had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. During the same period in the prior year, the firm posted $2.10 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Wix.com will post 3.65 EPS for the current year.

Wix.com declared that its board has initiated a share repurchase program on Wednesday, January 28th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the information services provider to buy up to 40.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

About Wix.com

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.