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

Wix.com Ltd. (NASDAQ:WIX) has received a consensus recommendation of “Moderate Buy” from the nineteen research firms that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $210.71.

Several equities analysts recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 price target on shares of Wix.com in a report on Wednesday, November 20th. Royal Bank of Canada increased their price objective on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Robert W. Baird boosted their target price on shares of Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Finally, Cantor Fitzgerald boosted their price objective on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, November 21st.

Wix.com Stock Performance

Shares of WIX stock opened at $223.41 on Tuesday. Wix.com has a fifty-two week low of $95.65 and a fifty-two week high of $223.95. The firm has a market capitalization of $12.25 billion, a PE ratio of 135.75, a P/E/G ratio of 4.24 and a beta of 1.47. The stock’s 50-day simple moving average is $170.73 and its 200-day simple moving average is $163.40.

Hedge Funds Weigh In On Wix.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Seven Eight Capital LP acquired a new position in shares of Wix.com during the first quarter valued at approximately $736,000. Quadrature Capital Ltd raised its stake in Wix.com by 65.1% in the 1st quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock valued at $3,095,000 after purchasing an additional 8,879 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Wix.com by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,401 shares of the information services provider’s stock valued at $1,431,000 after purchasing an additional 1,696 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Wix.com during the 1st quarter worth $779,000. Finally, Industrial Alliance Investment Management Inc. grew its holdings 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 worth $94,000 after buying an additional 488 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.