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

Shares of Wix.com Ltd. (NASDAQ:WIX) have been assigned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $226.68.

WIX has been the subject of a number of research reports. Baird R W raised shares of Wix.com from a “hold” rating to a “strong-buy” rating in a report on Friday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $250.00 target price on shares of Wix.com in a report on Wednesday, May 21st. Robert W. Baird raised shares of Wix.com from a “neutral” rating to an “outperform” rating and dropped their target price for the stock from $215.00 to $190.00 in a report on Friday, May 23rd. Citigroup dropped their target price on shares of Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a report on Friday, April 25th. Finally, Bank of America dropped their target price on shares of Wix.com from $270.00 to $230.00 and set a “buy” rating for the company in a report on Wednesday, May 21st.

Institutional Trading of Wix.com

Hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its stake in Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 66 shares in the last quarter. Twin Tree Management LP bought a new position in Wix.com during the 1st quarter valued at $29,000. Newbridge Financial Services Group Inc. bought a new position in Wix.com during the 4th quarter valued at $43,000. Global Retirement Partners LLC lifted its stake in Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after acquiring an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Wix.com during the 4th quarter valued at $52,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Down 0.6%

WIX opened at $152.32 on Friday. Wix.com has a twelve month low of $137.94 and a twelve month high of $247.11. The company has a 50-day simple moving average of $161.79 and a 200 day simple moving average of $194.55. The stock has a market capitalization of $8.55 billion, a price-to-earnings ratio of 64.82, a P/E/G ratio of 2.83 and a beta of 1.31.

Wix.com announced that its board has initiated a stock repurchase plan on Thursday, February 27th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management 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.