Wix.com Ltd. (NASDAQ:WIX) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Wix.com has a consensus analyst rating of "Moderate Buy" from 22 research firms, with an average 1-year price target of $96.75.
• Several analysts recently cut price targets on the stock, including Morgan Stanley, Citigroup, Wells Fargo, and RBC, reflecting more cautious sentiment around the company.
• Wix shares recently rose 1.8% to $50.14, while the company’s latest earnings missed expectations, reporting $0.68 EPS versus a forecast of $1.21.

Wix.com Ltd. (NASDAQ:WIX - Get Free Report) has earned a consensus rating of "Moderate Buy" from the twenty-two research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $96.75.

WIX has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on Wix.com from $125.00 to $112.00 and set an "overweight" rating for the company in a report on Monday, May 18th. Citigroup dropped their price objective on shares of Wix.com from $66.00 to $59.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 9th. Wells Fargo & Company reduced their target price on shares of Wix.com from $54.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 9th. Citizens Jmp downgraded shares of Wix.com from a "market outperform" rating to a "market perform" rating in a research note on Tuesday, April 7th. Finally, Royal Bank Of Canada lowered their price target on shares of Wix.com from $60.00 to $45.00 and set a "sector perform" rating for the company in a report on Tuesday, June 9th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in shares of Wix.com by 122.2% in the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider's stock worth $25,000 after buying an additional 132 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of Wix.com during the 4th quarter valued at about $27,000. Geneos Wealth Management Inc. grew its position in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock valued at $41,000 after buying an additional 215 shares during the last quarter. Employees Retirement System of Texas raised its stake in Wix.com by 129.9% during the fourth 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 period. Finally, Banque Cantonale Vaudoise raised its stake in Wix.com by 464.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 497 shares of the information services provider's stock worth $52,000 after acquiring an additional 409 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Trading Up 1.8%

Shares of Wix.com stock traded up $0.90 during mid-day trading on Friday, hitting $50.14. 1,280,682 shares of the stock were exchanged, compared to its average volume of 1,284,014. Wix.com has a twelve month low of $40.16 and a twelve month high of $190.93. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -64.28 and a beta of 0.93. The company has a 50-day simple moving average of $53.52 and a 200 day simple moving average of $73.00.

Wix.com (NASDAQ:WIX - Get Free Report) last released its earnings results on Wednesday, May 13th. The information services provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.53). The business had revenue of $541.17 million for the quarter, compared to analysts' expectations of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The business's quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.69 earnings per share. Equities research analysts forecast that Wix.com will post -0.17 earnings per share for the current fiscal year.

Wix.com Company Profile

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.

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