What is B. Riley's Estimate for Wix.com FY2028 Earnings?

Wix.com Ltd. (NASDAQ:WIX - Free Report) - Equities research analysts at B. Riley issued their FY2028 earnings per share estimates for shares of Wix.com in a report released on Monday, April 7th. B. Riley analyst N. Khan forecasts that the information services provider will earn $10.90 per share for the year. The consensus estimate for Wix.com's current full-year earnings is $3.65 per share. B. Riley also issued estimates for Wix.com's FY2029 earnings at $13.23 EPS.

Several other analysts have also issued reports on WIX. Piper Sandler lifted their target price on shares of Wix.com from $249.00 to $262.00 and gave the company an "overweight" rating in a research report on Friday, February 21st. Raymond James upgraded shares of Wix.com from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st. Citigroup raised their price objective on Wix.com from $275.00 to $280.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. UBS Group set a $250.00 target price on shares of Wix.com in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company upgraded shares of Wix.com from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $169.00 to $176.00 in a research report on Tuesday, April 8th. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $242.53.

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Wix.com Stock Performance

Shares of Wix.com stock traded down $0.02 on Wednesday, hitting $158.48. The company's stock had a trading volume of 128,917 shares, compared to its average volume of 645,795. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 67.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65. Wix.com has a 1 year low of $117.58 and a 1 year high of $247.11. The firm has a fifty day moving average price of $185.82 and a 200-day moving average price of $196.54.

Wix.com declared that its Board of Directors has initiated a stock buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Wix.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Wix.com by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 36,361 shares of the information services provider's stock worth $6,078,000 after purchasing an additional 613 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Wix.com by 5.2% in the 3rd quarter. Quantinno Capital Management LP now owns 10,385 shares of the information services provider's stock worth $1,736,000 after buying an additional 509 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Wix.com by 1.2% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 14,680 shares of the information services provider's stock valued at $2,454,000 after acquiring an additional 170 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Wix.com during the 3rd quarter valued at about $10,523,000. Finally, Geode Capital Management LLC raised its position in Wix.com by 3.2% during the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider's stock worth $76,848,000 after acquiring an additional 14,340 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.