Wix.com Ltd. (NASDAQ:WIX) Receives Average Rating of "Buy" from Brokerages

Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) have been assigned a consensus recommendation of "Buy" from the twenty-three brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $228.95.

Several research analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $250.00 target price on shares of Wix.com in a research note on Wednesday, May 21st. Wells Fargo & Company raised shares of Wix.com from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $173.00 to $216.00 in a research note on Monday, June 16th. Wall Street Zen raised shares of Wix.com from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Morgan Stanley dropped their price objective on shares of Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of Wix.com in a report on Wednesday, June 18th.

Wix.com Trading Down 0.2%

NASDAQ WIX traded down $0.41 on Wednesday, hitting $164.17. 495,341 shares of the company were exchanged, compared to its average volume of 690,411. The company has a market cap of $9.21 billion, a PE ratio of 65.41, a PEG ratio of 2.62 and a beta of 1.31. Wix.com has a 12 month low of $137.94 and a 12 month high of $247.11. The stock has a fifty day moving average of $162.11 and a 200-day moving average of $185.95.

Institutional Investors Weigh In On Wix.com

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of 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 worth $28,000 after acquiring an additional 66 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of Wix.com in the 1st quarter worth approximately $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Wix.com in the 4th quarter worth approximately $52,000. Geneos Wealth Management Inc. lifted its holdings in shares of Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after acquiring an additional 215 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Wix.com by 559.6% in the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider's stock worth $74,000 after acquiring an additional 291 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

Wix.com Company Profile

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.