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

Wix.com Ltd. (NASDAQ:WIX) has earned an average recommendation of “Moderate Buy” from the twenty-four ratings firms that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $179.8095.

Several equities research analysts have issued reports on WIX shares. Raymond James Financial reiterated a “strong-buy” rating on shares of Wix.com in a research note on Thursday, August 7th. Scotiabank decreased their price target on shares of Wix.com from $255.00 to $175.00 and set a “sector outperform” rating for the company in a research report on Thursday, November 20th. Citigroup lowered their price target on Wix.com from $197.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Wall Street Zen cut Wix.com from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. Finally, Bank of America decreased their target price on Wix.com from $210.00 to $170.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. grew its holdings 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 purchasing an additional 66 shares in the last quarter. Westside Investment Management Inc. boosted its position in Wix.com by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock valued at $27,000 after buying an additional 77 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Wix.com by 8.9% during the first quarter. Smartleaf Asset Management LLC now owns 966 shares of the information services provider’s stock valued at $161,000 after acquiring an additional 79 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Wix.com by 28.4% during the first quarter. Advisors Asset Management Inc. now owns 493 shares of the information services provider’s stock valued at $81,000 after acquiring an additional 109 shares in the last quarter. Finally, TD Private Client Wealth LLC increased its position in shares of Wix.com by 25.4% during the second quarter. TD Private Client Wealth LLC now owns 597 shares of the information services provider’s stock worth $95,000 after acquiring an additional 121 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Stock Performance

Shares of WIX stock opened at $95.90 on Friday. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 40.98, a price-to-earnings-growth ratio of 1.82 and a beta of 1.31. Wix.com has a one year low of $92.23 and a one year high of $247.11. The company has a 50 day moving average price of $136.57 and a 200 day moving average price of $146.55.

Wix.com declared that its board has authorized a share buyback program on Monday, August 11th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.