Wix.com Ltd. (NASDAQ:WIX) Receives $144.29 Average Price Target from Analysts

Wix.com Ltd. (NASDAQ:WIX) has been given an average rating of “Moderate Buy” by the thirteen research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $144.29.

WIX has been the subject of several analyst reports. Benchmark increased their price objective on Wix.com from $132.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Morgan Stanley dropped their price objective on Wix.com from $157.00 to $143.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 17th. Raymond James assumed coverage on shares of Wix.com in a research note on Wednesday, March 27th. They issued an “outperform” rating and a $160.00 target price for the company. Barclays increased their target price on shares of Wix.com from $147.00 to $160.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, Piper Sandler boosted their price target on shares of Wix.com from $146.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its holdings in Wix.com by 5.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,486 shares of the information services provider’s stock worth $226,000 after purchasing an additional 129 shares in the last quarter. HighMark Wealth Management LLC bought a new position in shares of Wix.com during the 4th quarter worth approximately $26,000. Natixis Advisors L.P. lifted its position in Wix.com by 2.0% during the fourth quarter. Natixis Advisors L.P. now owns 10,980 shares of the information services provider’s stock valued at $1,350,000 after acquiring an additional 214 shares during the last quarter. Northwest Bank & Trust Co purchased a new stake in Wix.com during the fourth quarter valued at approximately $26,000. Finally, Fidelis Capital Partners LLC acquired a new stake in Wix.com in the first quarter valued at approximately $37,000. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $122.14 on Friday. The firm has a market cap of $6.80 billion, a P/E ratio of 222.07, a PEG ratio of 4.12 and a beta of 1.34. Wix.com has a 52-week low of $73.39 and a 52-week high of $146.21. The business’s 50 day simple moving average is $132.03 and its two-hundred day simple moving average is $119.35.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. The company had revenue of $403.80 million for the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a negative return on equity of 40.56% and a net margin of 2.12%. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same period last year, the business earned ($0.42) EPS. On average, equities analysts forecast that Wix.com will post 1.16 earnings per share for the current fiscal year.

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.