Wix.com Ltd. (NASDAQ:WIX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Wix.com Ltd. (NASDAQ:WIX – Get Rating) have been assigned an average rating of “Moderate Buy” from the fifteen brokerages that are covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $105.14.

WIX has been the topic of a number of research reports. Wolfe Research restated an “outperform” rating and issued a $105.00 price objective (up from $100.00) on shares of Wix.com in a research note on Thursday, February 23rd. Barclays raised their target price on shares of Wix.com from $87.00 to $90.00 in a research report on Thursday, May 18th. Royal Bank of Canada lifted their price target on shares of Wix.com from $100.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, February 23rd. Morgan Stanley lifted their target price on shares of Wix.com from $94.00 to $102.00 and gave the stock an “equal weight” rating in a report on Thursday, February 23rd. Finally, Piper Sandler upgraded shares of Wix.com from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $99.00 to $120.00 in a research report on Tuesday, March 21st.

Institutional Trading of Wix.com

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Machina Capital S.A.S. purchased a new stake in Wix.com during the first quarter worth approximately $28,000. Desjardins Global Asset Management Inc. purchased a new stake in Wix.com during the first quarter worth approximately $34,000. Pacer Advisors Inc. purchased a new stake in Wix.com during the fourth quarter worth approximately $33,000. IFP Advisors Inc lifted its stake in Wix.com by 116.5% in the third quarter. IFP Advisors Inc now owns 433 shares of the information services provider’s stock valued at $41,000 after buying an additional 233 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in Wix.com in the third quarter valued at approximately $36,000. 91.90% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Price Performance

Wix.com stock opened at $77.00 on Friday. The business has a 50 day moving average of $87.38 and a 200-day moving average of $85.42. Wix.com has a 1 year low of $53.12 and a 1 year high of $101.55. The company has a market capitalization of $4.37 billion, a P/E ratio of -21.51 and a beta of 1.24.

Wix.com (NASDAQ:WIX – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The information services provider reported ($0.42) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.39. The business had revenue of $355.04 million for the quarter, compared to the consensus estimate of $351.69 million. Equities analysts anticipate that Wix.com will post -2.43 EPS for the current year.

Wix.com Company Profile

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Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.