Wix.com Ltd. (NASDAQ:WIX) Receives Consensus Rating of “Moderate Buy” from Analysts

Wix.com Ltd. (NASDAQ:WIX) has been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $188.47.

Several analysts recently commented on the stock. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Thursday. KeyCorp assumed coverage on shares of Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating for the company. Needham & Company LLC restated a “buy” rating and set a $190.00 price objective on shares of Wix.com in a research report on Wednesday, August 7th. Oppenheimer boosted their price objective on shares of Wix.com from $160.00 to $200.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. Finally, Royal Bank of Canada boosted their price objective on shares of Wix.com from $160.00 to $190.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st.

Wix.com Stock Up 2.5 %

Shares of WIX stock opened at $163.05 on Friday. The stock has a market cap of $9.32 billion, a P/E ratio of 143.03, a PEG ratio of 3.80 and a beta of 1.47. Wix.com has a 52 week low of $76.90 and a 52 week high of $178.65. The company’s fifty day simple moving average is $160.27 and its two-hundred day simple moving average is $144.66.

Wix.com (NASDAQ:WIX) last released its quarterly earnings data on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.35. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The company had revenue of $435.70 million during the quarter, compared to analysts’ expectations of $442.88 million. During the same period in the previous year, the company earned $0.58 EPS. The firm’s quarterly revenue was up 11.7% on a year-over-year basis. On average, analysts anticipate that Wix.com will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Wix.com

Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in Wix.com by 416.5% in the 1st quarter. SG Americas Securities LLC now owns 80,455 shares of the information services provider’s stock valued at $11,061,000 after buying an additional 64,878 shares during the period. Norges Bank acquired a new position in Wix.com in the 4th quarter valued at $34,554,000. Clearbridge Investments LLC increased its stake in Wix.com by 5.3% in the 4th quarter. Clearbridge Investments LLC now owns 1,143,794 shares of the information services provider’s stock valued at $140,710,000 after buying an additional 57,090 shares during the period. Crescent Park Management L.P. increased its stake in Wix.com by 16.5% in the 4th quarter. Crescent Park Management L.P. now owns 106,886 shares of the information services provider’s stock valued at $13,149,000 after buying an additional 15,131 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Wix.com by 36.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,406 shares of the information services provider’s stock valued at $4,318,000 after buying an additional 8,422 shares during the period. 81.52% of the stock is owned by institutional investors and hedge funds.

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.