Wix.com Ltd. (NASDAQ:WIX) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Wix.com Ltd. (NASDAQ:WIX) have received a consensus recommendation of “Moderate Buy” from the twenty-two analysts that are currently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $236.95.

WIX has been the topic of a number of analyst reports. UBS Group set a $250.00 price objective on shares of Wix.com in a research report on Wednesday, March 5th. Piper Sandler boosted their price objective on shares of Wix.com from $249.00 to $262.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Jefferies Financial Group cut their price objective on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. JMP Securities restated a “market outperform” rating and issued a $240.00 price target on shares of Wix.com in a report on Tuesday, February 18th. Finally, Citigroup cut their price target on shares of Wix.com from $280.00 to $238.00 and set a “buy” rating on the stock in a report on Friday, April 25th.

Institutional Trading of Wix.com

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after acquiring an additional 1,266,202 shares in the last quarter. Dorsal Capital Management LP increased its holdings in shares of Wix.com by 1.8% during the fourth quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider’s stock valued at $305,734,000 after acquiring an additional 25,000 shares in the last quarter. Senvest Management LLC increased its holdings in shares of Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after acquiring an additional 304,712 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Wix.com by 55.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock valued at $229,904,000 after acquiring an additional 380,800 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Wix.com by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock valued at $201,151,000 after acquiring an additional 162,400 shares in the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

Wix.com Stock Down 1.4%

WIX stock opened at $180.22 on Tuesday. Wix.com has a twelve month low of $137.94 and a twelve month high of $247.11. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 76.69, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56. The firm’s fifty day simple moving average is $166.38 and its two-hundred day simple moving average is $197.06.

Wix.com announced that its board has approved a stock buyback plan on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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.