Wix.com Ltd. (NASDAQ:WIX) Stock Has Consensus Price Target of $91.29 According to Analysts

Key Points

• Analyst sentiment is mixed: Twenty-three analysts have an average “Hold” rating on Wix.com, with 11 buys, 10 holds and 2 sells. The average 12-month price target is $91.29.
• Recent analyst actions included Morgan Stanley and JPMorgan cutting their price targets and issuing more cautious ratings, while Benchmark and Scotiabank maintained bullish views.
• Wix exceeded quarterly expectations, reporting $1.39 in EPS versus the $1.13 consensus and $563.06 million in revenue, up 14.9% year over year. The stock opened at $77.53, while institutional investors own 81.52% of the company.

Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) have earned an average rating of "Hold" from the twenty-three analysts that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $91.29.

Several research firms have weighed in on WIX. Citigroup reiterated a "neutral" rating on shares of Wix.com in a report on Wednesday, August 12th. Benchmark reissued a "buy" rating on shares of Wix.com in a research note on Wednesday, August 26th. Scotiabank restated an "outperform" rating on shares of Wix.com in a report on Tuesday, June 9th. Morgan Stanley lowered Wix.com from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $112.00 to $60.00 in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Wix.com from $86.00 to $62.00 and set an "underweight" rating on the stock in a report on Thursday, June 18th.

Insiders Place Their Bets

In related news, CEO Avishai Abrahami bought 654 shares of the company's stock in a transaction dated Monday, August 31st. The stock was purchased at an average cost of $59.89 per share, with a total value of $39,168.06. Following the transaction, the chief executive officer owned 486,225 shares in the company, valued at approximately $29,120,015.25. This trade represents a 0.13% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ron Gutler sold 5,718 shares of Wix.com stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $85.42, for a total transaction of $488,431.56. Following the sale, the director directly owned 15,631 shares in the company, valued at $1,335,200.02. The trade was a 26.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders purchased 2,622 shares of company stock worth $157,032. Company insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Engineers Gate Manager LP lifted its stake in shares of Wix.com by 378.0% in the 2nd quarter. Engineers Gate Manager LP now owns 34,750 shares of the information services provider's stock valued at $1,577,000 after purchasing an additional 27,480 shares during the period. Readystate Asset Management LP purchased a new stake in shares of Wix.com in the 2nd quarter worth approximately $485,000. Headlands Technologies LLC bought a new position in Wix.com during the 2nd quarter valued at approximately $475,000. Quantitative Investment Management LLC purchased a new position in Wix.com during the second quarter valued at $605,000. Finally, Public Employees Retirement System of Ohio bought a new stake in Wix.com in the second quarter worth $2,232,000. Institutional investors own 81.52% of the company's stock.

Wix.com Trading Up 1.0%

WIX stock opened at $77.53 on Friday. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -21.90, a PEG ratio of 38.07 and a beta of 1.02. The firm's 50-day moving average price is $71.84 and its two-hundred day moving average price is $67.34. Wix.com has a 12-month low of $40.16 and a 12-month high of $181.11.

Wix.com (NASDAQ:WIX - Get Free Report) last posted its earnings results on Tuesday, August 4th. The information services provider reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.13 by $0.26. The company had revenue of $563.06 million during the quarter, compared to analyst estimates of $552.56 million. Wix.com had a negative net margin of 8.19% and a negative return on equity of 1.61%. Wix.com's revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.28 earnings per share. Equities analysts predict that Wix.com will post 0.24 EPS for the current year.

Wix.com Company Profile

Wix.com Ltd. is an Israeli software company that operates a cloud-based website development platform. Its services enable individuals, entrepreneurs, small businesses and organizations to create, manage and grow websites without requiring extensive coding expertise.

The company offers customizable website templates and visual design tools, along with domain registration, web hosting, content management, search engine optimization and online marketing capabilities. Wix also provides tools for e-commerce, online payments, bookings, events, restaurants and other business operations, as well as professional development products through Wix Studio and third-party applications available through its app marketplace.

Founded in 2006 by Avishai Abrahami, Nadav Abrahami and Giora Kaplan, Wix is headquartered in Tel Aviv, Israel, and serves customers internationally.

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