Wix.com Ltd. (NASDAQ:WIX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Wix.com Ltd. (NASDAQ:WIX) has received a consensus recommendation of “Moderate Buy” from the eighteen analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $190.06.

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of Wix.com in a report on Monday, October 7th. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. KeyCorp initiated coverage on Wix.com in a research note on Thursday, July 25th. They set a “sector weight” rating for the company. JMP Securities restated a “market outperform” rating and set a $180.00 price objective on shares of Wix.com in a research note on Thursday, July 25th. Finally, Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $184.00 to $200.00 in a research note on Monday, September 23rd.

Wix.com Trading Down 1.0 %

Shares of WIX stock opened at $162.46 on Friday. Wix.com has a twelve month low of $76.90 and a twelve month high of $179.00. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 142.51, a P/E/G ratio of 3.55 and a beta of 1.48. The stock has a fifty day simple moving average of $163.44 and a two-hundred day simple moving average of $154.71.

Wix.com (NASDAQ:WIX) last issued its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.35. Wix.com had a negative return on equity of 49.05% and a net margin of 4.44%. The business had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. During the same period in the prior year, the business earned $0.58 EPS. The business’s revenue for the quarter was up 11.7% compared to the same quarter last year. Research analysts predict that Wix.com will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WIX. Dorsal Capital Management LP grew its holdings in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after acquiring an additional 250,000 shares during the period. Renaissance Technologies LLC grew its holdings in Wix.com by 27.9% during the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares during the period. Driehaus Capital Management LLC acquired a new stake in Wix.com during the second quarter worth about $13,646,000. State Board of Administration of Florida Retirement System grew its holdings in Wix.com by 2,110.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 69,595 shares of the information services provider’s stock worth $9,568,000 after acquiring an additional 66,447 shares during the period. Finally, SG Americas Securities LLC grew its holdings in Wix.com by 416.5% during the first quarter. SG Americas Securities LLC now owns 80,455 shares of the information services provider’s stock worth $11,061,000 after acquiring an additional 64,878 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

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.