Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) have received a consensus rating of "Buy" from the twenty-two research firms that are presently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, seventeen have given a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $215.6316.
Several brokerages have weighed in on WIX. B. Riley reiterated a "buy" rating and issued a $230.00 target price (down from $240.00) on shares of Wix.com in a research note on Wednesday, May 28th. Robert W. Baird upgraded shares of Wix.com from a "neutral" rating to an "outperform" rating and lowered their price objective for the company from $215.00 to $190.00 in a research report on Friday, May 23rd. Cfra Research raised shares of Wix.com from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 12th. Baird R W raised shares of Wix.com from a "hold" rating to a "strong-buy" rating in a report on Friday, May 23rd. Finally, UBS Group dropped their price target on shares of Wix.com from $230.00 to $200.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th.
View Our Latest Stock Analysis on Wix.com
Wix.com Stock Performance
NASDAQ WIX opened at $171.63 on Monday. The firm's fifty day moving average is $142.69 and its two-hundred day moving average is $156.99. Wix.com has a one year low of $114.89 and a one year high of $247.11. The firm has a market cap of $9.63 billion, a PE ratio of 61.08, a P/E/G ratio of 3.30 and a beta of 1.30.
Wix.com (NASDAQ:WIX - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The information services provider reported $2.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.79 by $0.49. The firm had revenue of $489.93 million for the quarter, compared to analyst estimates of $487.62 million. Wix.com had a negative return on equity of 136.43% and a net margin of 8.90%.The business's revenue was up 12.4% on a year-over-year basis. During the same quarter last year, the company posted $1.67 earnings per share. Research analysts predict that Wix.com will post 3.65 earnings per share for the current year.
Wix.com announced that its Board of Directors has authorized a share buyback plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.
Institutional Trading of Wix.com
Several hedge funds have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. grew its holdings in Wix.com by 63.5% during the first 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 period. Twin Tree Management LP purchased a new stake in shares of Wix.com during the 1st quarter worth $29,000. Geneos Wealth Management Inc. grew its stake 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 worth $41,000 after purchasing an additional 215 shares during the period. Blue Trust Inc. increased its holdings in shares of Wix.com by 47.8% in the 2nd quarter. Blue Trust Inc. now owns 408 shares of the information services provider's stock valued at $65,000 after purchasing an additional 132 shares in the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in shares of Wix.com in the second quarter valued at about $77,000. 81.52% of the stock is owned by institutional investors and hedge funds.
Wix.com Company Profile
(
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.
Further Reading
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