Wix.com Ltd. (NASDAQ:WIX) Receives $162.43 Consensus Target Price from Brokerages

Wix.com Ltd. (NASDAQ:WIX) has been given an average rating of “Moderate Buy” by the twenty-three research firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $162.4286.

WIX has been the subject of a number of research reports. Needham & Company LLC lowered their price target on Wix.com from $200.00 to $140.00 and set a “buy” rating for the company in a report on Thursday, November 20th. UBS Group reiterated an “overweight” rating on shares of Wix.com in a report on Thursday, December 11th. Oppenheimer dropped their price target on Wix.com from $160.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, February 2nd. Wall Street Zen downgraded Wix.com from a “buy” rating to a “hold” rating in a report on Saturday, November 22nd. Finally, Evercore lowered their price objective on shares of Wix.com from $250.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th.

Hedge Funds Weigh In On Wix.com

A number of large investors have recently bought and sold shares of the business. Westside Investment Management Inc. boosted its position in Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after acquiring an additional 77 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Wix.com by 7.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock worth $172,000 after purchasing an additional 120 shares during the last quarter. Blue Trust Inc. boosted its position in Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider’s stock valued at $65,000 after purchasing an additional 132 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in Wix.com by 2.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock worth $693,000 after purchasing an additional 142 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Shares of WIX opened at $69.23 on Thursday. The firm has a market capitalization of $3.88 billion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.15 and a beta of 1.42. The company has a 50-day moving average of $91.66 and a 200 day moving average of $120.74. Wix.com has a 1-year low of $67.66 and a 1-year high of $239.73.

Wix.com announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 28th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the information services provider to buy up to 40.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Wix.com Company Profile

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.