Brokerages Set Wix.com Ltd. (NASDAQ:WIX) Price Target at $179.67

Wix.com Ltd. (NASDAQ:WIX) has earned a consensus recommendation of “Moderate Buy” from the twenty-four brokerages that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $179.6667.

Several research analysts recently weighed in on WIX shares. Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a research report on Saturday, November 22nd. Wells Fargo & Company dropped their price objective on shares of Wix.com from $184.00 to $176.00 and set an “overweight” rating on the stock in a research note on Friday, December 19th. JMP Securities set a $185.00 target price on shares of Wix.com in a research note on Thursday, November 20th. Scotiabank lowered their price target on shares of Wix.com from $255.00 to $175.00 and set a “sector outperform” rating on the stock in a report on Thursday, November 20th. Finally, UBS Group reaffirmed an “overweight” rating on shares of Wix.com in a report on Thursday, December 11th.

Hedge Funds Weigh In On Wix.com

A number of hedge funds have recently bought and sold shares of WIX. Westside Investment Management Inc. increased its position in shares of Wix.com by 100.0% in the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after buying an additional 77 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Wix.com by 63.5% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 66 shares during the period. Twin Tree Management LP purchased a new stake in Wix.com in the 1st quarter worth $29,000. Geneos Wealth Management Inc. increased its holdings in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares in the last quarter. Finally, National Bank of Canada FI acquired a new position in Wix.com during the third quarter worth $54,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Performance

NASDAQ WIX opened at $105.50 on Wednesday. The firm has a market capitalization of $5.92 billion, a P/E ratio of 45.09, a PEG ratio of 2.08 and a beta of 1.42. The stock has a 50-day simple moving average of $116.07 and a two-hundred day simple moving average of $138.12. Wix.com has a fifty-two week low of $92.23 and a fifty-two week high of $247.11.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.