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

Wix.com Ltd. (NASDAQ:WIX) has received a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $190.19.

Several brokerages have weighed in on WIX. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a report on Thursday, August 15th. KeyCorp assumed coverage on Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating for the company. Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $184.00 to $200.00 in a research note on Monday, September 23rd. Barclays boosted their target price on shares of Wix.com from $184.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of Wix.com in a research report on Monday, September 23rd.

Wix.com Price Performance

Shares of WIX opened at $168.30 on Monday. The company’s 50-day moving average is $160.82 and its 200-day moving average is $151.25. The firm has a market capitalization of $9.62 billion, a PE ratio of 147.63, a PEG ratio of 3.50 and a beta of 1.47. Wix.com has a fifty-two week low of $76.90 and a fifty-two week high of $178.65.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The company had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The firm’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. Analysts predict that Wix.com will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of Wix.com

Hedge funds have recently modified their holdings of the stock. Clearbridge Investments LLC increased its position in Wix.com by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after buying an additional 33,338 shares in the last quarter. Creative Planning increased its holdings in shares of Wix.com by 56.6% during the second quarter. Creative Planning now owns 8,041 shares of the information services provider’s stock valued at $1,279,000 after acquiring an additional 2,907 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of Wix.com during the second quarter worth approximately $13,646,000. MBB Public Markets I LLC lifted its holdings in shares of Wix.com by 123.7% in the 2nd quarter. MBB Public Markets I LLC now owns 3,749 shares of the information services provider’s stock worth $596,000 after purchasing an additional 2,073 shares in the last quarter. Finally, Dorsal Capital Management LP grew its position in Wix.com by 23.8% in 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 purchasing an additional 250,000 shares during the period. Institutional investors own 81.52% of the company’s stock.

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.