Wix.com Ltd. (NASDAQ:WIX) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) have received an average recommendation of "Moderate Buy" from the eighteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $190.06.

A number of research firms have recently commented on WIX. Evercore ISI upgraded shares of Wix.com to a "strong-buy" rating in a report on Monday, August 5th. Piper Sandler raised shares of Wix.com from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. JMP Securities reiterated a "market outperform" rating and issued a $180.00 price target on shares of Wix.com in a report on Thursday, July 25th. StockNews.com upgraded Wix.com from a "hold" rating to a "buy" rating in a report on Thursday, August 15th. Finally, KeyCorp initiated coverage on Wix.com in a report on Thursday, July 25th. They issued a "sector weight" rating for the company.

Wix.com Stock Performance

NASDAQ WIX traded up $1.81 during trading on Friday, hitting $164.27. The stock had a trading volume of 211,120 shares, compared to its average volume of 549,923. Wix.com has a one year low of $76.90 and a one year high of $179.00. The stock has a 50 day simple moving average of $163.45 and a 200 day simple moving average of $154.92. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 144.10, a P/E/G ratio of 3.55 and a beta of 1.48.

Wix.com (NASDAQ:WIX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.32 by $0.35. The firm had revenue of $435.70 million during the quarter, compared to analyst estimates of $442.88 million. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. Wix.com's quarterly revenue was up 11.7% compared to the same quarter last year. During the same period last year, the company earned $0.58 EPS. On average, sell-side analysts predict that Wix.com will post 2.1 EPS for the current year.

Hedge Funds Weigh In On Wix.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. purchased a new position in Wix.com in the 1st quarter worth $345,000. Diversified Trust Co increased its holdings in Wix.com by 30.2% in the 1st quarter. Diversified Trust Co now owns 21,894 shares of the information services provider's stock worth $3,010,000 after buying an additional 5,076 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Wix.com by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 112,500 shares of the information services provider's stock valued at $15,466,000 after acquiring an additional 796 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in shares of Wix.com in the 1st quarter valued at $214,000. Finally, Van ECK Associates Corp increased its stake in shares of Wix.com by 4.7% in the first quarter. Van ECK Associates Corp now owns 16,259 shares of the information services provider's stock worth $2,235,000 after acquiring an additional 728 shares during the period. 81.52% of the stock is owned by hedge funds and other 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.