Wix.com Ltd. (NASDAQ:WIX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus rating of “Moderate Buy” from the sixteen research firms that are presently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $113.88.

WIX has been the topic of several research analyst reports. Needham & Company LLC lifted their price objective on Wix.com from $120.00 to $130.00 in a report on Friday, August 4th. JMP Securities lifted their price objective on Wix.com from $114.00 to $130.00 and gave the stock a “market outperform” rating in a report on Friday, September 1st. DA Davidson initiated coverage on Wix.com in a report on Wednesday, July 26th. They issued a “buy” rating and a $100.00 price objective on the stock. Barclays lifted their price objective on Wix.com from $90.00 to $100.00 and gave the stock an “equal weight” rating in a report on Friday, August 4th. Finally, StockNews.com assumed coverage on Wix.com in a report on Friday, October 6th. They issued a “buy” rating on the stock.

Hedge Funds Weigh In On Wix.com

Institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Wix.com by 27.5% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,292 shares of the information services provider’s stock worth $428,000 after purchasing an additional 925 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Wix.com by 1.7% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 33,772 shares of the information services provider’s stock worth $3,370,000 after purchasing an additional 572 shares in the last quarter. G2 Investment Partners Management LLC acquired a new position in shares of Wix.com during the first quarter worth $7,533,000. M&T Bank Corp acquired a new position in shares of Wix.com during the first quarter worth $249,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in Wix.com in the first quarter valued at $1,189,000. Institutional investors and hedge funds own 83.91% of the company’s stock.

Wix.com Stock Down 3.6 %

NASDAQ:WIX opened at $86.65 on Friday. Wix.com has a 52 week low of $70.28 and a 52 week high of $102.82. The stock has a market capitalization of $4.95 billion, a PE ratio of -78.77 and a beta of 1.21. The stock’s 50-day moving average price is $88.48 and its 200-day moving average price is $84.98.

About Wix.com

Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs.