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

Shares of Wix.com Ltd. (NASDAQ:WIX) have earned a consensus recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold recommendation, fourteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $210.44.

A number of brokerages recently weighed in on WIX. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday. UBS Group increased their price objective on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays upped their target price on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada lifted their price target on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Benchmark increased their price objective on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday.

Institutional Investors Weigh In On Wix.com

A number of institutional investors have recently bought and sold shares of WIX. Blue Trust Inc. grew its holdings in Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after buying an additional 98 shares in the last quarter. CWM LLC grew its stake in Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 101 shares in the last quarter. Toronto Dominion Bank increased its holdings in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 124 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in Wix.com by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock worth $764,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Trading Down 0.9 %

Shares of NASDAQ:WIX opened at $217.20 on Tuesday. The stock has a fifty day simple moving average of $170.73 and a two-hundred day simple moving average of $162.82. Wix.com has a 12-month low of $95.65 and a 12-month high of $220.22. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 135.75, a PEG ratio of 4.25 and a beta of 1.47.

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.