Wix.com (NASDAQ:WIX - Free Report) had its target price lowered by Wells Fargo & Company from $176.00 to $173.00 in a report published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the information services provider's stock.
Several other analysts have also weighed in on the company. Morgan Stanley decreased their price target on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Cantor Fitzgerald raised their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, February 20th. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price objective on shares of Wix.com in a research report on Wednesday, May 21st. Barclays boosted their target price on Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research report on Thursday, February 20th. Finally, Benchmark decreased their price target on Wix.com from $260.00 to $245.00 and set a "buy" rating for the company in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.16.
Read Our Latest Stock Analysis on WIX
Wix.com Stock Up 2.3%
NASDAQ WIX traded up $3.51 during trading hours on Thursday, hitting $154.77. 835,946 shares of the company were exchanged, compared to its average volume of 652,162. Wix.com has a 52 week low of $137.94 and a 52 week high of $247.11. The stock has a 50-day moving average price of $165.00 and a 200 day moving average price of $196.72. The stock has a market cap of $8.68 billion, a PE ratio of 65.89, a price-to-earnings-growth ratio of 2.83 and a beta of 1.56.
Wix.com declared that its Board of Directors has authorized a stock buyback program on Thursday, February 27th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its stake in shares of Wix.com by 632.4% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after buying an additional 215 shares during the period. Bayforest Capital Ltd raised its stake in Wix.com by 78.8% in the 1st quarter. Bayforest Capital Ltd now owns 1,291 shares of the information services provider's stock worth $211,000 after acquiring an additional 569 shares during the last quarter. Woodline Partners LP lifted its position in Wix.com by 9.7% during the 1st quarter. Woodline Partners LP now owns 2,292 shares of the information services provider's stock worth $374,000 after acquiring an additional 202 shares during the period. United Services Automobile Association purchased a new stake in Wix.com during the 1st quarter valued at about $287,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Wix.com by 25.8% in the first quarter. Goldman Sachs Group Inc. now owns 761,566 shares of the information services provider's stock valued at $124,425,000 after purchasing an additional 155,977 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.
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.
Featured Articles
Before you consider Wix.com, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Wix.com wasn't on the list.
While Wix.com currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
