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

Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-two analysts that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $238.89.

Several equities analysts recently weighed in on WIX shares. StockNews.com upgraded shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Piper Sandler lifted their target price on shares of Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research note on Friday, February 21st. Raymond James raised shares of Wix.com from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Citigroup lifted their target price on shares of Wix.com from $275.00 to $280.00 and gave the company a "buy" rating in a research report on Thursday, February 20th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a report on Wednesday, February 19th.

Hedge Funds Weigh In On Wix.com

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its holdings in Wix.com by 3.2% in 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 in the last quarter. Tidal Investments LLC lifted its holdings in shares of Wix.com by 3.4% during the third quarter. Tidal Investments LLC now owns 34,646 shares of the information services provider's stock worth $5,792,000 after purchasing an additional 1,127 shares during the period. Franklin Resources Inc. raised its position in Wix.com by 8.9% during the 3rd quarter. Franklin Resources Inc. now owns 47,143 shares of the information services provider's stock worth $7,673,000 after buying an additional 3,864 shares during the last quarter. GAMMA Investing LLC lifted its stake in Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider's stock valued at $116,000 after acquiring an additional 491 shares during the period. Finally, CWA Asset Management Group LLC acquired a new stake in Wix.com during the 4th quarter valued at approximately $1,042,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

Wix.com Stock Up 4.7 %

NASDAQ WIX traded up $7.19 on Friday, reaching $161.80. The company had a trading volume of 182,353 shares, compared to its average volume of 651,475. The stock has a market capitalization of $9.08 billion, a P/E ratio of 68.85, a P/E/G ratio of 2.83 and a beta of 1.65. The company's fifty day moving average is $176.32 and its 200 day moving average is $196.09. Wix.com has a 52-week low of $117.58 and a 52-week high of $247.11.

Wix.com announced that its board has authorized a stock repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

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.