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

Shares of Wix.com Ltd. (NASDAQ:WIX) have received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $175.59.

WIX has been the subject of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Wix.com in a research report on Monday, May 20th. Citigroup upped their price target on Wix.com from $175.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Oppenheimer lifted their price objective on shares of Wix.com from $160.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, May 21st. Bank of America increased their target price on shares of Wix.com from $153.00 to $183.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Piper Sandler lowered shares of Wix.com from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $165.00 to $184.00 in a research note on Tuesday, May 21st.

Wix.com Stock Performance

Shares of WIX stock opened at $158.32 on Friday. Wix.com has a 52 week low of $74.41 and a 52 week high of $178.65. The company’s 50 day moving average price is $144.95 and its two-hundred day moving average price is $134.10. The company has a market capitalization of $9.05 billion, a P/E ratio of 138.88, a price-to-earnings-growth ratio of 3.78 and a beta of 1.46.

Wix.com (NASDAQ:WIX) last posted its quarterly earnings data on Monday, May 20th. The information services provider reported $0.33 EPS for the quarter, beating the consensus estimate of $0.15 by $0.18. The business had revenue of $419.78 million for the quarter, compared to analysts’ expectations of $417.71 million. Wix.com had a net margin of 4.20% and a negative return on equity of 59.67%. Analysts forecast that Wix.com will post 1.91 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WIX. DekaBank Deutsche Girozentrale grew its position in shares of Wix.com by 8.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 2,893 shares of the information services provider’s stock valued at $395,000 after purchasing an additional 215 shares during the last quarter. Swedbank AB acquired a new position in Wix.com in the 1st quarter valued at $2,319,000. iA Global Asset Management Inc. increased its position in Wix.com by 176.5% during the 1st quarter. iA Global Asset Management Inc. now owns 16,336 shares of the information services provider’s stock worth $2,246,000 after buying an additional 10,427 shares during the period. Tidal Investments LLC bought a new position in Wix.com during the 1st quarter worth $5,197,000. Finally, California State Teachers Retirement System lifted its holdings in shares of Wix.com by 9.8% during the first quarter. California State Teachers Retirement System now owns 56,143 shares of the information services provider’s stock worth $7,719,000 after buying an additional 5,033 shares in the last quarter. 81.52% of the stock is 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.