Wix.com Ltd. (NASDAQ:WIX) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Wix.com Ltd. (NASDAQ:WIX) have earned an average recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $238.89.

Several equities analysts have recently weighed in on WIX shares. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reduced their price target on shares of Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 19th. Jefferies Financial Group decreased their price objective on shares of Wix.com from $265.00 to $230.00 and set a “buy” rating for the company in a research note on Monday, April 7th. Citigroup raised their target price on shares of Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, February 20th. Finally, StockNews.com raised shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Thursday, April 3rd.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WIX. Janney Montgomery Scott LLC bought a new position in shares of Wix.com during the first quarter worth about $5,367,000. Optas LLC acquired a new stake in Wix.com during the first quarter valued at approximately $268,000. Assenagon Asset Management S.A. lifted its holdings in Wix.com by 1,209.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 344,713 shares of the information services provider’s stock worth $56,319,000 after buying an additional 318,387 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Wix.com by 4.9% in the 1st quarter. Yousif Capital Management LLC now owns 1,833 shares of the information services provider’s stock worth $299,000 after acquiring an additional 85 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Wix.com by 36.9% in the 1st quarter. Harbor Capital Advisors Inc. now owns 30,926 shares of the information services provider’s stock valued at $5,053,000 after acquiring an additional 8,330 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

Wix.com Trading Down 0.8 %

Shares of WIX opened at $159.76 on Friday. The stock’s fifty day simple moving average is $180.79 and its 200 day simple moving average is $195.93. Wix.com has a twelve month low of $117.58 and a twelve month high of $247.11. The firm has a market capitalization of $8.96 billion, a P/E ratio of 67.98, a price-to-earnings-growth ratio of 2.83 and a beta of 1.65.

Wix.com declared that its board has approved a share buyback plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.