Shares of Wix.com Ltd. (NASDAQ:WIX - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $181.74, but opened at $167.80. Wix.com shares last traded at $161.35, with a volume of 520,071 shares.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. UBS Group set a $250.00 price target on Wix.com in a report on Wednesday, March 5th. JMP Securities reiterated a "market outperform" rating and issued a $240.00 price objective on shares of Wix.com in a research report on Tuesday, February 18th. Morgan Stanley cut their target price on Wix.com from $276.00 to $207.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company upgraded Wix.com from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $169.00 to $176.00 in a research note on Tuesday, April 8th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $245.00 target price on shares of Wix.com in a report on Thursday, February 20th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $237.74.
Get Our Latest Stock Analysis on Wix.com
Wix.com Stock Down 12.3%
The company has a market capitalization of $8.95 billion, a PE ratio of 68.51, a PEG ratio of 2.83 and a beta of 1.56. The stock's fifty day simple moving average is $166.56 and its 200-day simple moving average is $196.96.
Wix.com announced that its Board of Directors has authorized a share repurchase program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.
Institutional Trading of Wix.com
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. increased its stake in shares of Wix.com by 94.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 26,326 shares of the information services provider's stock worth $5,648,000 after purchasing an additional 12,807 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Wix.com during the 4th quarter worth about $321,000. MassMutual Private Wealth & Trust FSB lifted its holdings in Wix.com by 113.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider's stock valued at $56,000 after purchasing an additional 139 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock valued at $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after acquiring an additional 89 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading
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