Wix.com Ltd. (NASDAQ:WIX) Receives $97.95 Consensus Price Target from Brokerages

Wix.com Ltd. (NASDAQ:WIX) has been given a consensus recommendation of “Moderate Buy” by the twenty-two ratings firms that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $96.75.

Several analysts recently commented on the stock. Cantor Fitzgerald cut their target price on shares of Wix.com from $110.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. UBS Group cut their target price on shares of Wix.com from $68.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, June 10th. Piper Sandler assumed coverage on shares of Wix.com in a research note on Thursday, March 12th. They set a “neutral” rating and a $98.00 target price for the company. Raymond James Financial reissued a “strong-buy” rating and set a $100.00 target price on shares of Wix.com in a research note on Wednesday, March 4th. Finally, Citigroup cut their target price on shares of Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday, June 9th.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Arkadios Wealth Advisors purchased a new stake in Wix.com in the 1st quarter worth approximately $249,000. California State Teachers Retirement System lifted its position in Wix.com by 6.0% in the 1st quarter. California State Teachers Retirement System now owns 59,243 shares of the information services provider’s stock worth $5,336,000 after buying an additional 3,343 shares in the last quarter. Empowered Funds LLC purchased a new stake in Wix.com in the 1st quarter worth approximately $2,381,000. Quantinno Capital Management LP lifted its position in Wix.com by 155.6% in the 1st quarter. Quantinno Capital Management LP now owns 122,722 shares of the information services provider’s stock worth $11,054,000 after buying an additional 74,716 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its position in Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider’s stock worth $62,623,000 after buying an additional 685,614 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Price Performance

Wix.com stock opened at $40.43 on Wednesday. The firm has a 50 day simple moving average of $60.07 and a 200-day simple moving average of $77.85. The stock has a market capitalization of $2.36 billion, a PE ratio of -51.83 and a beta of 0.91. Wix.com has a 12-month low of $40.25 and a 12-month high of $190.93.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.53). The company had revenue of $541.17 million during the quarter, compared to the consensus estimate of $544.04 million. Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The company’s revenue was up 14.2% on a year-over-year basis. During the same quarter last year, the business earned $1.69 earnings per share. On average, analysts forecast that Wix.com will post -0.1 earnings per share for the current fiscal year.

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.