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

Shares of Wix.com Ltd. (NASDAQ:WIX) have received an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $175.59.

Several research firms have recently issued reports on WIX. Bank of America raised their price target on shares of Wix.com from $153.00 to $183.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Raymond James assumed coverage on Wix.com in a research report on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 price target on the stock. Jefferies Financial Group raised their price objective on Wix.com from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Citigroup increased their target price on shares of Wix.com from $175.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Finally, Piper Sandler downgraded shares of Wix.com from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $165.00 to $184.00 in a research report on Tuesday, May 21st.

Wix.com Stock Performance

Shares of WIX opened at $157.37 on Friday. Wix.com has a 52-week low of $74.41 and a 52-week high of $178.65. The firm has a market cap of $9.00 billion, a price-to-earnings ratio of 138.05, a PEG ratio of 3.71 and a beta of 1.46. The business’s fifty day moving average is $146.99 and its 200-day moving average is $135.44.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Monday, May 20th. The information services provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.18. The company had revenue of $419.78 million for the quarter, compared to analyst estimates of $417.71 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. As a group, research analysts forecast that Wix.com will post 1.91 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. HighMark Wealth Management LLC bought a new position in Wix.com during the fourth quarter valued at approximately $26,000. Northwest Bank & Trust Co purchased a new position in Wix.com in the 4th quarter worth $26,000. Fidelis Capital Partners LLC bought a new stake in Wix.com in the first quarter worth $37,000. Principal Securities Inc. purchased a new stake in Wix.com during the fourth quarter valued at about $93,000. Finally, Industrial Alliance Investment Management Inc. grew its stake in shares of Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after buying an additional 488 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.