Wix.com Ltd. (NASDAQ:WIX) Receives $144.29 Consensus PT from Analysts

Wix.com Ltd. (NASDAQ:WIX) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $144.29.

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, April 13th. Morgan Stanley cut their price objective on shares of Wix.com from $157.00 to $143.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 17th. Barclays upped their price objective on shares of Wix.com from $147.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Raymond James started coverage on shares of Wix.com in a research report on Wednesday, March 27th. They set an “outperform” rating and a $160.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and set a $150.00 price objective on shares of Wix.com in a research report on Wednesday, February 21st.

Hedge Funds Weigh In On Wix.com

Several hedge funds have recently added to or reduced their stakes in WIX. Senvest Management LLC increased its holdings in Wix.com by 194.2% during the 3rd quarter. Senvest Management LLC now owns 605,937 shares of the information services provider’s stock valued at $55,625,000 after acquiring an additional 399,944 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Wix.com by 43.5% during the 3rd quarter. Clearbridge Investments LLC now owns 1,086,704 shares of the information services provider’s stock valued at $99,759,000 after acquiring an additional 329,561 shares in the last quarter. Shannon River Fund Management LLC purchased a new position in Wix.com during the 3rd quarter valued at about $29,590,000. Norges Bank acquired a new stake in shares of Wix.com during the 4th quarter worth about $34,554,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Wix.com by 5,893.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 263,012 shares of the information services provider’s stock worth $24,145,000 after purchasing an additional 258,624 shares during the last quarter. 81.52% of the stock is currently owned by hedge funds and other institutional investors.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $119.83 on Friday. The stock has a market cap of $6.67 billion, a P/E ratio of 217.87, a P/E/G ratio of 4.12 and a beta of 1.34. The firm has a fifty day moving average price of $132.69 and a 200 day moving average price of $118.82. Wix.com has a 1-year low of $73.39 and a 1-year high of $146.21.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings results on Wednesday, February 21st. The information services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.24. The firm had revenue of $403.80 million during the quarter, compared to analysts’ expectations of $416.87 million. Wix.com had a net margin of 2.12% and a negative return on equity of 40.56%. Wix.com’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.42) EPS. Sell-side analysts expect that Wix.com will post 1.16 EPS for the current fiscal year.

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.