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

Wix.com Ltd. (NASDAQ:WIX) has been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $124.65.

A number of equities analysts recently weighed in on WIX shares. Robert W. Baird lowered shares of Wix.com from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $115.00 to $90.00 in a research note on Monday, March 9th. Needham & Company LLC reduced their target price on shares of Wix.com from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Jefferies Financial Group reduced their target price on shares of Wix.com from $200.00 to $130.00 and set a “buy” rating for the company in a research note on Monday, February 23rd. Wall Street Zen lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Finally, UBS Group lowered shares of Wix.com from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $145.00 to $96.00 in a research note on Thursday, April 2nd.

Hedge Funds Weigh In On Wix.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WIX. Mediolanum International Funds Ltd boosted its stake in shares of Wix.com by 65.9% during the 3rd quarter. Mediolanum International Funds Ltd now owns 55,647 shares of the information services provider’s stock worth $10,054,000 after buying an additional 22,112 shares during the last quarter. Massachusetts Financial Services Co. MA acquired a new position in shares of Wix.com during the 3rd quarter worth about $54,314,000. Principal Financial Group Inc. boosted its stake in shares of Wix.com by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 948,263 shares of the information services provider’s stock worth $168,446,000 after buying an additional 23,836 shares during the last quarter. Dream Peak Capital Ltd acquired a new position in shares of Wix.com during the 4th quarter worth about $1,500,000. Finally, Intech Investment Management LLC acquired a new position in shares of Wix.com during the 3rd quarter worth about $6,179,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Trading Up 7.9%

Shares of NASDAQ WIX opened at $80.60 on Tuesday. The firm has a market cap of $4.70 billion, a PE ratio of 99.51, a PEG ratio of 2.46 and a beta of 1.01. Wix.com has a 1-year low of $60.22 and a 1-year high of $191.24. The company has a fifty day moving average price of $79.57 and a 200 day moving average price of $95.46.

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

Wix.com declared that its Board of Directors has authorized a share buyback program on Wednesday, January 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information services provider to purchase up to 40.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

About Wix.com

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.