Analysts Set Wix.com Ltd. (NASDAQ:WIX) Target Price at $243.74

Wix.com Ltd. (NASDAQ:WIX) has earned a consensus rating of “Moderate Buy” from the twenty-one brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $243.74.

WIX has been the subject of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $245.00 target price on shares of Wix.com in a research note on Thursday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a research report on Tuesday, February 18th. Citigroup boosted their price target on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $235.00 price objective on shares of Wix.com in a research report on Wednesday, February 19th. Finally, Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $248.00 to $276.00 in a research report on Monday, January 13th.

Institutional Trading of Wix.com

Several institutional investors and hedge funds have recently modified their holdings of WIX. Advisors Asset Management Inc. grew its position in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares during the last quarter. Avior Wealth Management LLC grew its holdings in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Wix.com during the 4th quarter valued at approximately $43,000. Global Retirement Partners LLC increased its position in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Wix.com in the 4th quarter valued at approximately $52,000. 81.52% of the stock is currently owned by institutional investors.

Wix.com Trading Down 4.3 %

Shares of NASDAQ WIX opened at $166.36 on Monday. Wix.com has a 12 month low of $117.58 and a 12 month high of $247.11. The stock has a 50 day moving average of $204.99 and a 200-day moving average of $197.13. The company has a market capitalization of $9.33 billion, a P/E ratio of 70.79, a P/E/G ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has approved a share repurchase program on Thursday, February 27th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the information services provider to buy up to 1.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.