Wix.com Ltd. (NASDAQ:WIX - Get Free Report) has been given an average rating of "Buy" by the twenty-two ratings firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $215.6316.
A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Wix.com from a "strong-buy" rating to a "buy" rating in a research note on Saturday, September 13th. Baird R W raised shares of Wix.com from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Zacks Research upgraded shares of Wix.com from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 20th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of Wix.com in a research report on Wednesday, June 18th. Finally, Scotiabank set a $255.00 price objective on shares of Wix.com and gave the company a "sector outperform" rating in a research report on Thursday, August 7th.
View Our Latest Stock Analysis on Wix.com
Wix.com Price Performance
Shares of WIX stock traded down $1.18 on Monday, reaching $182.12. 1,915,467 shares of the company were exchanged, compared to its average volume of 2,128,919. Wix.com has a one year low of $114.89 and a one year high of $247.11. The company has a market cap of $10.22 billion, a price-to-earnings ratio of 64.81, a PEG ratio of 3.52 and a beta of 1.30. The company has a 50-day moving average of $144.76 and a 200-day moving average of $157.01.
Wix.com (NASDAQ:WIX - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.49. Wix.com had a net margin of 8.90% and a negative return on equity of 136.43%. The business had revenue of $489.93 million for the quarter, compared to analysts' expectations of $487.62 million. During the same quarter last year, the firm earned $1.67 EPS. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. As a group, sell-side analysts predict that Wix.com will post 3.65 EPS for the current year.
Wix.com announced that its board has approved a stock repurchase program on Monday, August 11th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the information services provider to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.
Institutional Investors Weigh In On Wix.com
Hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in Wix.com by 31.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the information services provider's stock worth $830,000 after acquiring an additional 1,204 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of Wix.com by 4.9% in the first quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider's stock worth $299,000 after buying an additional 85 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Wix.com in the first quarter worth approximately $5,367,000. Goldman Sachs Group Inc. lifted its stake 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 worth $124,425,000 after buying an additional 155,977 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of Wix.com by 27.1% in the first quarter. Envestnet Asset Management Inc. now owns 35,177 shares of the information services provider's stock worth $5,747,000 after buying an additional 7,507 shares in the last quarter. Institutional investors 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.
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