Wix.com (NASDAQ:WIX - Get Free Report)'s stock had its "market outperform" rating restated by equities researchers at JMP Securities in a note issued to investors on Friday,Benzinga reports. They currently have a $250.00 target price on the information services provider's stock. JMP Securities' price objective would indicate a potential upside of 57.35% from the stock's current price.
Other research analysts have also issued research reports about the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of Wix.com in a research report on Wednesday. Morgan Stanley dropped their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Baird R W upgraded Wix.com from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 23rd. Cfra Research lowered Wix.com from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, UBS Group dropped their price objective on Wix.com from $255.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, May 22nd. Three research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $228.95.
View Our Latest Report on WIX
Wix.com Price Performance
Shares of Wix.com stock opened at $158.88 on Friday. Wix.com has a 52-week low of $137.94 and a 52-week high of $247.11. The firm has a market capitalization of $8.91 billion, a PE ratio of 63.28, a price-to-earnings-growth ratio of 2.31 and a beta of 1.31. The company's fifty day moving average price is $161.77 and its two-hundred day moving average price is $190.61.
Wix.com declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's leadership believes its stock is undervalued.
Hedge Funds Weigh In On Wix.com
Several hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock valued at $28,000 after purchasing an additional 66 shares during the period. Twin Tree Management LP bought a new stake in shares of Wix.com during the first quarter worth approximately $29,000. Geneos Wealth Management Inc. lifted its holdings in Wix.com by 632.4% in the first 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 period. Global Retirement Partners LLC lifted its holdings in Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock valued at $47,000 after buying an additional 58 shares during the period. Finally, SBI Securities Co. Ltd. bought a new position in Wix.com in the fourth quarter valued at approximately $52,000. Institutional investors own 81.52% of the company's stock.
Wix.com Company Profile
(
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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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