Wix.com Ltd. (NASDAQ:WIX) Receives $188.47 Consensus Target Price from Brokerages

Wix.com Ltd. (NASDAQ:WIX) has been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $189.19.

Several research firms have issued reports on WIX. Benchmark boosted their price target on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp started coverage on shares of Wix.com in a research note on Thursday, July 25th. They set a “sector weight” rating on the stock. Cantor Fitzgerald started coverage on shares of Wix.com in a research note on Thursday, September 5th. They issued an “overweight” rating and a $200.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $190.00 target price on shares of Wix.com in a research note on Wednesday, August 7th. Finally, JPMorgan Chase & Co. upped their price objective on Wix.com from $148.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 29th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in WIX. Clearbridge Investments LLC lifted its stake in shares of 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 purchasing an additional 33,338 shares during the last quarter. Creative Planning raised its holdings in Wix.com by 56.6% during the 2nd quarter. Creative Planning now owns 8,041 shares of the information services provider’s stock valued at $1,279,000 after buying an additional 2,907 shares during the period. Driehaus Capital Management LLC bought a new stake in Wix.com in the second quarter worth $13,646,000. MBB Public Markets I LLC boosted its stake in Wix.com by 123.7% during the second quarter. MBB Public Markets I LLC now owns 3,749 shares of the information services provider’s stock worth $596,000 after buying an additional 2,073 shares during the period. Finally, Dorsal Capital Management LP increased its position in Wix.com by 23.8% during the second 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. Institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 0.6 %

Shares of NASDAQ:WIX opened at $152.80 on Thursday. The stock has a market capitalization of $8.74 billion, a PE ratio of 134.04, a price-to-earnings-growth ratio of 3.46 and a beta of 1.47. The firm’s 50 day moving average price is $160.69 and its 200-day moving average price is $149.30. Wix.com has a twelve month low of $76.90 and a twelve month high of $178.65.

Wix.com (NASDAQ:WIX) last released its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The business had revenue of $435.70 million for the quarter, compared to the consensus estimate of $442.88 million. During the same period last year, the firm earned $0.58 earnings per share. The company’s quarterly revenue was up 11.7% on a year-over-year basis. Analysts expect that Wix.com will post 2.01 earnings per share for the current fiscal 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.