Shares of Wix.com Ltd. (NASDAQ:WIX – Get Free Report) have been assigned an average recommendation of “Hold” from the twenty-three ratings firms that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $91.29.
Several equities research analysts recently issued reports on the stock. Wedbush raised their target price on shares of Wix.com from $55.00 to $80.00 and gave the stock a “neutral” rating in a report on Thursday, August 20th. Citigroup reissued a “neutral” rating on shares of Wix.com in a report on Wednesday, August 12th. Needham & Company LLC raised their price target on Wix.com from $80.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday. UBS Group boosted their price target on Wix.com from $66.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Wix.com from $86.00 to $62.00 and set an “underweight” rating on the stock in a research note on Thursday, June 18th.
Read Our Latest Analysis on Wix.com
Insider Buying and Selling at Wix.com
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in WIX. Senvest Management LLC lifted its holdings in Wix.com by 24.8% during the first quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider’s stock valued at $338,184,000 after purchasing an additional 746,200 shares in the last quarter. Hsbc Holdings PLC increased its stake in shares of Wix.com by 11,894.0% in the first quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider’s stock worth $318,676,000 after purchasing an additional 3,500,047 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Wix.com by 57.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider’s stock valued at $142,848,000 after purchasing an additional 578,729 shares during the period. Atreides Management LP purchased a new position in shares of Wix.com during the 4th quarter valued at $129,598,000. Finally, Clearbridge Investments LLC boosted its holdings in Wix.com by 20.4% in the 4th quarter. Clearbridge Investments LLC now owns 1,079,489 shares of the information services provider’s stock worth $112,148,000 after buying an additional 183,100 shares during the period. 81.52% of the stock is currently owned by institutional investors.
Wix.com Stock Performance
Shares of NASDAQ WIX opened at $77.53 on Friday. The company has a market cap of $4.52 billion, a PE ratio of -21.90, a P/E/G ratio of 38.07 and a beta of 1.02. The firm’s 50 day moving average price is $71.84 and its 200-day moving average price is $67.34. Wix.com has a 52-week low of $40.16 and a 52-week high of $181.11.
Wix.com (NASDAQ:WIX – Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The information services provider reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.26. Wix.com had a negative net margin of 8.19% and a negative return on equity of 1.61%. The company had revenue of $563.06 million during the quarter, compared to analyst estimates of $552.56 million. During the same period in the previous year, the business earned $2.28 EPS. The firm’s revenue for the quarter was up 14.9% on a year-over-year basis. On average, analysts forecast that Wix.com will post 0.24 earnings per share for the current fiscal year.
About Wix.com
Wix.com Ltd. is an Israeli software company that operates a cloud-based website development platform. Its services enable individuals, entrepreneurs, small businesses and organizations to create, manage and grow websites without requiring extensive coding expertise.
The company offers customizable website templates and visual design tools, along with domain registration, web hosting, content management, search engine optimization and online marketing capabilities. Wix also provides tools for e-commerce, online payments, bookings, events, restaurants and other business operations, as well as professional development products through Wix Studio and third-party applications available through its app marketplace.
Founded in 2006 by Avishai Abrahami, Nadav Abrahami and Giora Kaplan, Wix is headquartered in Tel Aviv, Israel, and serves customers internationally.
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