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

Wix.com Ltd. (NASDAQ:WIX) has received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $189.19.

Several research firms have recently commented on WIX. Royal Bank of Canada raised their target price on shares of Wix.com from $160.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Cantor Fitzgerald assumed coverage on Wix.com in a research report on Thursday, September 5th. They set an “overweight” rating and a $200.00 price objective on the stock. Jefferies Financial Group increased their target price on Wix.com from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday, August 15th. Finally, B. Riley increased their price objective on Wix.com from $154.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st.

Institutional Trading of Wix.com

Several institutional investors have recently added to or reduced their stakes in WIX. Norges Bank purchased a new stake in shares of Wix.com during the fourth quarter valued at $34,554,000. Dorsal Capital Management LP boosted its holdings in shares of Wix.com by 23.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares during the period. Capital Fund Management S.A. raised its holdings in shares of Wix.com by 1,378.7% during the fourth quarter. Capital Fund Management S.A. now owns 160,456 shares of the information services provider’s stock valued at $19,739,000 after purchasing an additional 149,605 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in Wix.com by 328.5% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 180,000 shares of the information services provider’s stock valued at $22,144,000 after purchasing an additional 137,991 shares during the period. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Price Performance

NASDAQ WIX opened at $152.80 on Thursday. Wix.com has a 1 year low of $76.90 and a 1 year high of $178.65. The stock has a market capitalization of $8.74 billion, a PE ratio of 134.04, a PEG ratio of 3.46 and a beta of 1.47. The business’s 50-day moving average is $160.69 and its 200 day moving average is $149.30.

Wix.com (NASDAQ:WIX) last posted its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm had revenue of $435.70 million for the quarter, compared to analysts’ expectations of $442.88 million. During the same period in the previous year, the firm earned $0.58 earnings per share. The business’s revenue was up 11.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Wix.com will post 2.01 earnings per share for the current year.

About Wix.com

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.