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

Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $189.19.

A number of equities research analysts have recently commented on the company. Piper Sandler reiterated a “neutral” rating and set a $184.00 target price on shares of Wix.com in a research note on Thursday, August 8th. Benchmark boosted their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Morgan Stanley raised their price target on shares of Wix.com from $143.00 to $187.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 21st. KeyCorp assumed coverage on Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Finally, UBS Group raised their target price on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th.

Wix.com Stock Performance

NASDAQ:WIX opened at $156.40 on Thursday. Wix.com has a 52 week low of $76.90 and a 52 week high of $178.65. The firm has a 50-day moving average price of $160.79 and a two-hundred day moving average price of $149.02. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 137.60, a price-to-earnings-growth ratio of 3.46 and a beta of 1.47.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, August 7th. The information services provider reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The company had revenue of $435.70 million during the quarter, compared to the consensus estimate of $442.88 million. During the same period last year, the business posted $0.58 earnings per share. Wix.com’s revenue was up 11.7% on a year-over-year basis. As a group, sell-side analysts forecast that Wix.com will post 2.01 earnings per share for the current year.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently modified their holdings of the company. Dorsal Capital Management LP boosted its stake in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after buying an additional 250,000 shares during the period. Wellington Management Group LLP boosted its position in shares of Wix.com by 10.7% during the 4th quarter. Wellington Management Group LLP now owns 1,210,715 shares of the information services provider’s stock valued at $148,942,000 after acquiring an additional 117,146 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Wix.com by 2.9% during the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after acquiring an additional 33,338 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Wix.com by 27.9% during the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after purchasing an additional 171,500 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Wix.com in the fourth quarter worth approximately $34,554,000. 81.52% of the stock is currently owned by institutional investors.

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.