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

Wix.com Ltd. (NASDAQ:WIX - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-one analysts that are currently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $243.74.

A number of analysts have weighed in on WIX shares. JMP Securities reissued a "market outperform" rating and set a $240.00 target price on shares of Wix.com in a research report on Tuesday, February 18th. Cantor Fitzgerald increased their price objective on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Morgan Stanley raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and lifted their target price for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. Barclays upped their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st.

Wix.com Trading Up 3.1 %

NASDAQ:WIX traded up $5.25 during trading hours on Monday, hitting $173.88. 623,506 shares of the company were exchanged, compared to its average volume of 601,059. The stock has a market capitalization of $9.53 billion, a price-to-earnings ratio of 73.99, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64. Wix.com has a one year low of $117.58 and a one year high of $247.11. The company has a fifty day simple moving average of $207.83 and a 200 day simple moving average of $196.61.

Remove Ads

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

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC raised its position in Wix.com by 8.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,468 shares of the information services provider's stock worth $530,000 after acquiring an additional 193 shares during the period. Mackenzie Financial Corp raised its holdings in shares of Wix.com by 211.0% in the 4th quarter. Mackenzie Financial Corp now owns 29,395 shares of the information services provider's stock worth $6,307,000 after purchasing an additional 19,943 shares during the period. JT Stratford LLC purchased a new position in Wix.com in the fourth quarter valued at approximately $218,000. USS Investment Management Ltd grew its holdings in Wix.com by 12.5% during the fourth quarter. USS Investment Management Ltd now owns 10,404 shares of the information services provider's stock valued at $2,232,000 after purchasing an additional 1,157 shares during the period. Finally, Voloridge Investment Management LLC increased its position in Wix.com by 15.7% in the fourth quarter. Voloridge Investment Management LLC now owns 380,909 shares of the information services provider's stock worth $81,724,000 after buying an additional 51,581 shares during the last quarter. 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.