Brokerages Set Wix.com Ltd. (NASDAQ:WIX) Price Target at $215.37

Shares of Wix.com Ltd. (NASDAQ:WIX) have been given a consensus rating of “Buy” by the twenty-three ratings firms that are covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $215.3684.

WIX has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Wix.com in a research report on Wednesday, October 8th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $210.00 price target on shares of Wix.com in a research report on Tuesday, August 19th. Wall Street Zen raised Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Wells Fargo & Company raised Wix.com from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $173.00 to $216.00 in a research report on Monday, June 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $210.00 price objective on shares of Wix.com in a report on Friday, October 3rd.

Wix.com Trading Down 3.3%

WIX stock opened at $134.15 on Friday. The company has a market capitalization of $7.53 billion, a PE ratio of 47.74, a P/E/G ratio of 2.50 and a beta of 1.32. Wix.com has a 12-month low of $114.89 and a 12-month high of $247.11. The business’s fifty day moving average price is $148.24 and its 200 day moving average price is $155.16.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.49. The firm had revenue of $489.93 million for the quarter, compared to the consensus estimate of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The company’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.67 EPS. Research analysts predict that Wix.com will post 3.65 EPS for the current fiscal year.

Wix.com declared that its board has approved a share repurchase plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. grew its stake in Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after buying an additional 66 shares during the last quarter. Twin Tree Management LP purchased a new position in Wix.com during the 1st quarter worth approximately $29,000. Geneos Wealth Management Inc. grew its stake in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the last quarter. Blue Trust Inc. grew its stake in Wix.com by 47.8% during the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock worth $65,000 after buying an additional 132 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new position in Wix.com during the 2nd quarter worth approximately $77,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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.