Wix.com Ltd. (NASDAQ:WIX) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Wix.com has a consensus “Hold” rating among 23 brokerages, with 11 buy, 10 hold and 2 sell recommendations. The average 12-month price target is $91.76.
• Recent insider activity was positive: executives bought shares worth about $157,000 over the past 90 days, while institutional investors and hedge funds own 81.52% of the stock.
• Wix exceeded quarterly expectations, reporting adjusted earnings of $1.39 per share versus $1.13 expected and revenue of $563.06 million, up 14.9% year over year.

Wix.com Ltd. (NASDAQ:WIX - Get Free Report) has been given a consensus rating of "Hold" by the twenty-three brokerages that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $91.76.

Several research firms recently weighed in on WIX. Wedbush upped their price objective on shares of Wix.com from $55.00 to $80.00 and gave the stock a "neutral" rating in a report on Thursday, August 20th. Wall Street Zen lowered shares of Wix.com from a "buy" rating to a "hold" rating in a research report on Sunday, October 4th. Cantor Fitzgerald raised their target price on shares of Wix.com from $80.00 to $90.00 and gave the company an "overweight" rating in a research note on Monday. Benchmark restated a "buy" rating on shares of Wix.com in a research report on Wednesday, August 26th. Finally, Weiss Ratings upgraded shares of Wix.com from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, September 11th.

Insiders Place Their Bets

In other news, CMO Omer Shai bought 490 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average price of $59.89 per share, with a total value of $29,346.10. Following the completion of the acquisition, the chief marketing officer directly owned 515,879 shares in the company, valued at approximately $30,895,993.31. This trade represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lior Shemesh bought 456 shares of the company's stock in a transaction that occurred on Monday, August 31st. The shares were purchased at an average cost of $59.89 per share, for a total transaction of $27,309.84. Following the acquisition, the chief financial officer owned 221,567 shares of the company's stock, valued at $13,269,647.63. This represents a 0.21% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders purchased 2,622 shares of company stock valued at $157,032. 6.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Wix.com

A number of institutional investors have recently added to or reduced their stakes in the company. Senvest Management LLC lifted its holdings in Wix.com by 24.8% in the 1st quarter. Senvest Management LLC now owns 3,754,680 shares of the information services provider's stock valued at $338,184,000 after acquiring an additional 746,200 shares during the last quarter. Hsbc Holdings PLC boosted its position in shares of Wix.com by 11,894.0% during the 1st quarter. Hsbc Holdings PLC now owns 3,529,474 shares of the information services provider's stock valued at $318,676,000 after purchasing an additional 3,500,047 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Wix.com by 57.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,585,962 shares of the information services provider's stock worth $142,848,000 after purchasing an additional 578,729 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Wix.com by 1.9% in the 1st quarter. SG Americas Securities LLC now owns 970,500 shares of the information services provider's stock worth $87,413,000 after purchasing an additional 17,697 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Wix.com by 7,102.6% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 695,267 shares of the information services provider's stock worth $62,623,000 after purchasing an additional 685,614 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

Wix.com Stock Performance

Shares of WIX stock opened at $76.98 on Tuesday. Wix.com has a 1 year low of $40.16 and a 1 year high of $148.33. The stock has a fifty day moving average of $77.70 and a two-hundred day moving average of $65.54. The firm has a market capitalization of $4.49 billion, a PE ratio of -21.75, a price-to-earnings-growth ratio of 35.65 and a beta of 1.01.

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

About Wix.com

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.

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