Wix.com Ltd. (NASDAQ:WIX) Receives $228.95 Consensus Price Target from Analysts

Wix.com Ltd. (NASDAQ:WIX) has received an average rating of “Buy” from the twenty-three analysts that are currently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $228.95.

WIX has been the subject of several analyst reports. Citigroup decreased their price target on shares of Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Wix.com in a research report on Wednesday, May 21st. Piper Sandler decreased their price objective on shares of Wix.com from $262.00 to $225.00 and set an “overweight” rating for the company in a research report on Thursday, May 22nd. B. Riley reaffirmed a “buy” rating and issued a $230.00 price objective (down from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th. Finally, 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 report on Monday, April 7th.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Wix.com by 9.7% in the 4th quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock valued at $26,738,000 after acquiring an additional 11,048 shares during the period. New York Life Investment Management LLC acquired a new stake in Wix.com in the 4th quarter valued at $269,000. US Bancorp DE grew its stake in Wix.com by 1.9% in the 4th quarter. US Bancorp DE now owns 11,057 shares of the information services provider’s stock valued at $2,372,000 after acquiring an additional 209 shares during the period. Smartleaf Asset Management LLC grew its stake in Wix.com by 27.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 887 shares of the information services provider’s stock valued at $193,000 after acquiring an additional 192 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in Wix.com by 559.6% in the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Stock Performance

WIX stock opened at $164.17 on Wednesday. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 65.41, a PEG ratio of 2.62 and a beta of 1.31. The firm has a 50-day simple moving average of $162.11 and a two-hundred day simple moving average of $186.15. Wix.com has a one year low of $137.94 and a one year high of $247.11.

About Wix.com

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.