Brokerages Set Wix.com Ltd. (NASDAQ:WIX) PT at $124.65

Shares of Wix.com Ltd. (NASDAQ:WIX) have been assigned an average recommendation of “Moderate Buy” from the twenty-two ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation, fourteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $124.65.

A number of analysts recently issued reports on WIX shares. Robert W. Baird lowered Wix.com from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $115.00 to $90.00 in a research note on Monday, March 9th. Scotiabank decreased their price objective on Wix.com from $175.00 to $125.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 5th. Jefferies Financial Group decreased their price objective on Wix.com from $200.00 to $130.00 and set a “buy” rating on the stock in a research note on Monday, February 23rd. Oppenheimer decreased their price objective on Wix.com from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, April 27th. Finally, Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th.

Hedge Funds Weigh In On Wix.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Westside Investment Management Inc. grew its position in Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after buying an additional 77 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Wix.com by 7.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock worth $172,000 after buying an additional 120 shares in the last quarter. Farther Finance Advisors LLC grew its position in Wix.com by 122.2% during the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after buying an additional 132 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Wix.com by 2.2% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock worth $693,000 after buying an additional 142 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its position in Wix.com by 18.7% during the fourth quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider’s stock worth $98,000 after buying an additional 148 shares in the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Performance

NASDAQ:WIX opened at $79.74 on Tuesday. Wix.com has a 52-week low of $60.22 and a 52-week high of $191.24. The firm has a market cap of $4.65 billion, a price-to-earnings ratio of 98.44, a PEG ratio of 2.46 and a beta of 1.01. The business’s fifty day moving average is $79.57 and its 200 day moving average is $95.16.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, March 4th. The information services provider reported $1.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.36 by $0.45. Wix.com had a negative return on equity of 70.04% and a net margin of 2.54%.The company had revenue of $524.27 million for the quarter, compared to analyst estimates of $527.69 million. During the same period in the previous year, the company posted $2.10 EPS. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. Equities analysts predict that Wix.com will post 1.57 EPS for the current fiscal year.

Wix.com declared that its board has approved a stock buyback program on Wednesday, January 28th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the information services provider to purchase up to 40.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.