Analysts Set Wix.com Ltd. (NASDAQ:WIX) Target Price at $228.95

Key Points

• Shares of Wix.com Ltd. have received an average consensus recommendation of "Buy" from 22 analysts, with 17 rating it as a buy and 3 as a strong buy.
• The average 1-year price target for Wix.com is $228.95, with multiple brokerages issuing varying price targets between $210.00 to $265.00.
• Wix.com is currently trading at around $152.49, with a market cap of $8.56 billion and a PE ratio of 60.75.

Wix.com Ltd. (NASDAQ:WIX - Get Free Report) has earned an average recommendation of "Buy" from the twenty-two brokerages that are covering the company, MarketBeat reports. Two equities 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 12-month price target among brokers that have covered the stock in the last year is $228.95.

A number of brokerages have recently commented on WIX. Jefferies Financial Group cut their price target on Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Bank of America cut their price target on Wix.com from $270.00 to $230.00 and set a "buy" rating on the stock in a research note on Wednesday, May 21st. Barclays reissued an "overweight" rating and set a $240.00 price target on shares of Wix.com in a research note on Wednesday, July 16th. Benchmark cut their price target on Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a research note on Monday, May 19th. Finally, B. Riley restated a "buy" rating and set a $230.00 price objective (down from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th.

Wix.com Price Performance

NASDAQ:WIX traded down $4.15 during trading hours on Friday, hitting $144.30. The company's stock had a trading volume of 56,265 shares, compared to its average volume of 863,573. The stock has a fifty day simple moving average of $155.23 and a 200-day simple moving average of $178.05. The company has a market capitalization of $8.10 billion, a P/E ratio of 57.24, a PEG ratio of 2.40 and a beta of 1.31. Wix.com has a twelve month low of $137.94 and a twelve month high of $247.11.

Institutional Investors Weigh In On Wix.com

Hedge funds have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 valued at $28,000 after acquiring an additional 66 shares in the last quarter. Twin Tree Management LP bought a new stake in Wix.com during the first quarter worth $29,000. Geneos Wealth Management Inc. grew its holdings in 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 in the last quarter. Blue Trust Inc. grew its holdings in Wix.com by 47.8% during the second quarter. Blue Trust Inc. now owns 408 shares of the information services provider's stock worth $65,000 after buying an additional 132 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Wix.com by 183.3% in the 1st quarter. TD Private Client Wealth LLC now owns 476 shares of the information services provider's stock valued at $78,000 after purchasing an additional 308 shares during the period. 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.