Wix.com (NASDAQ:WIX - Get Free Report) had its price objective reduced by stock analysts at Jefferies Financial Group from $265.00 to $230.00 in a report issued on Monday,Benzinga reports. The firm presently has a "buy" rating on the information services provider's stock. Jefferies Financial Group's price target would suggest a potential upside of 45.11% from the company's previous close.
Other equities research analysts have also issued reports about the company. StockNews.com upgraded Wix.com from a "buy" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Morgan Stanley raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $248.00 to $276.00 in a research report on Monday, January 13th. Raymond James raised shares of Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $225.00 to $300.00 in a research note on Tuesday, January 21st. Needham & Company LLC reissued a "buy" rating and set a $235.00 target price on shares of Wix.com in a research report on Wednesday, February 19th. Finally, Piper Sandler boosted their price target on Wix.com from $249.00 to $262.00 and gave the stock an "overweight" rating in a research report on Friday, February 21st. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Wix.com presently has an average rating of "Moderate Buy" and an average target price of $242.53.
Get Our Latest Analysis on Wix.com
Wix.com Stock Up 1.8 %
Shares of WIX traded up $2.82 during trading hours on Monday, reaching $158.50. The company's stock had a trading volume of 823,838 shares, compared to its average volume of 647,676. The firm has a market cap of $8.89 billion, a price-to-earnings ratio of 67.45, a P/E/G ratio of 2.83 and a beta of 1.65. The company has a 50 day moving average of $185.82 and a two-hundred day moving average of $196.37. Wix.com has a 1-year low of $117.58 and a 1-year high of $247.11.
Wix.com announced that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares 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
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Flagship Harbor Advisors LLC bought a new position in shares of Wix.com in the 4th quarter valued at about $256,000. XTX Topco Ltd boosted its stake in shares of Wix.com by 348.6% during the 3rd quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider's stock worth $1,488,000 after acquiring an additional 6,919 shares during the period. Bank of New York Mellon Corp raised its stake in Wix.com by 9.7% in the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider's stock valued at $26,738,000 after acquiring an additional 11,048 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Wix.com by 5.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 105,353 shares of the information services provider's stock valued at $22,603,000 after purchasing an additional 5,286 shares during the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in Wix.com during the fourth quarter worth $321,000. Institutional investors own 81.52% of the company's stock.
About Wix.com
(
Get Free Report)
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.
Featured Articles
Before you consider Wix.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wix.com wasn't on the list.
While Wix.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
