Analysts Set Wix.com Ltd. (NASDAQ:WIX) PT at $237.74

Shares of Wix.com Ltd. (NASDAQ:WIX) have received an average rating of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $236.95.

Several brokerages recently weighed in on WIX. 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a report on Thursday, February 20th. Bank of America increased their price target on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Benchmark cut their price target on shares of Wix.com from $260.00 to $245.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wells Fargo & Company upgraded shares of Wix.com from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $169.00 to $176.00 in a report on Tuesday, April 8th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP lifted its position in shares of Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after buying an additional 1,266,202 shares in the last quarter. Dorsal Capital Management LP lifted its position in shares of Wix.com by 1.8% during the 4th quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider’s stock valued at $305,734,000 after buying an additional 25,000 shares in the last quarter. Senvest Management LLC lifted its position in shares of Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after buying an additional 304,712 shares in the last quarter. Whale Rock Capital Management LLC lifted its position in shares of Wix.com by 55.1% during the 4th 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 buying an additional 380,800 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Wix.com by 21.0% during the 4th quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock valued at $201,151,000 after buying an additional 162,400 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Stock Down 1.4%

WIX opened at $180.22 on Tuesday. Wix.com has a 52-week low of $137.94 and a 52-week high of $247.11. The company has a market cap of $10.11 billion, a P/E ratio of 76.69, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56. The firm’s 50-day moving average price is $166.38 and its 200-day moving average price is $197.06.

Wix.com declared that its Board of Directors has initiated a share repurchase plan on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to buy up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Wix.com Company Profile

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.