Wix.com (NASDAQ:WIX - Get Free Report)'s stock had its "market outperform" rating reissued by equities researchers at JMP Securities in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $250.00 price objective on the information services provider's stock. JMP Securities' price objective suggests a potential upside of 61.74% from the company's previous close.
A number of other brokerages also recently commented on WIX. Oppenheimer cut their price objective on shares of Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Cfra Research downgraded shares of Wix.com from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Bank of America cut their price objective on shares of Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a research report on Wednesday. Needham & Company LLC restated a "buy" rating and set a $250.00 price objective on shares of Wix.com in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut their price objective on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating for the company in a research report on Wednesday, February 19th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $229.32.
View Our Latest Analysis on Wix.com
Wix.com Stock Up 1.5%
NASDAQ:WIX traded up $2.23 during trading hours on Thursday, reaching $154.57. 569,204 shares of the company's stock were exchanged, compared to its average volume of 651,843. The firm has a market capitalization of $8.67 billion, a price-to-earnings ratio of 66.03, a P/E/G ratio of 2.83 and a beta of 1.56. Wix.com has a 1-year low of $137.94 and a 1-year high of $247.11. The company has a 50-day moving average of $166.16 and a 200 day moving average of $196.65.
Wix.com announced that its Board of Directors has approved a share buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to repurchase 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 shares are undervalued.
Institutional Investors Weigh In On Wix.com
A number of large investors have recently added to or reduced their stakes in WIX. Northwestern Mutual Wealth Management Co. grew its stake in Wix.com by 63.5% in 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 during the last quarter. Twin Tree Management LP acquired a new stake in Wix.com in the 1st quarter valued at about $29,000. Geneos Wealth Management Inc. grew its stake in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock valued at $41,000 after acquiring an additional 215 shares during the last quarter. Avior Wealth Management LLC grew its stake in Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after acquiring an additional 89 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Wix.com in the 4th quarter valued at about $43,000. 81.52% of the stock is owned by institutional investors and hedge funds.
About Wix.com
(
Get Free Report)
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.
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