Wix.com Ltd. (NASDAQ:WIX) Receives $162.43 Average Target Price from Brokerages

Wix.com Ltd. (NASDAQ:WIX) has been given an average rating of “Moderate Buy” by the twenty-three analysts that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $162.4286.

WIX has been the topic of several research analyst reports. UBS Group reaffirmed an “overweight” rating on shares of Wix.com in a research note on Thursday, December 11th. Raymond James Financial set a $74.00 price target on Wix.com in a research report on Wednesday, January 7th. Cantor Fitzgerald lifted their price objective on Wix.com from $135.00 to $140.00 and gave the company an “overweight” rating in a research report on Thursday, December 11th. Morgan Stanley decreased their target price on Wix.com from $181.00 to $160.00 and set an “overweight” rating on the stock in a report on Thursday, January 15th. Finally, Zacks Research upgraded Wix.com from a “strong sell” rating to a “hold” rating in a research note on Friday, January 30th.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $69.23 on Thursday. The business’s fifty day moving average price is $92.29 and its two-hundred day moving average price is $121.34. Wix.com has a fifty-two week low of $67.66 and a fifty-two week high of $239.73. The stock has a market capitalization of $3.88 billion, a price-to-earnings ratio of 29.59, a price-to-earnings-growth ratio of 2.15 and a beta of 1.42.

Wix.com announced that its board has authorized a stock repurchase plan on Wednesday, January 28th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the information services provider to reacquire up to 40.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Wix.com

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC increased its holdings in Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 132 shares during the last quarter. Westside Investment Management Inc. increased its stake in shares of 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 acquiring an additional 77 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com in the 4th quarter valued at approximately $27,000. Geneos Wealth Management Inc. boosted its stake in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after acquiring an additional 215 shares during the last quarter. Finally, Employees Retirement System of Texas boosted its stake in Wix.com by 129.9% during the 4th quarter. Employees Retirement System of Texas now owns 446 shares of the information services provider’s stock worth $46,000 after acquiring an additional 252 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.