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

Wix.com Ltd. (NASDAQ:WIX) has been given a consensus recommendation of “Moderate Buy” by the eighteen brokerages that are currently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $190.06.

A number of equities 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 report on Thursday, August 15th. Benchmark lifted their price objective on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. KeyCorp assumed coverage on shares of Wix.com in a research report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research report on Monday, September 30th. Finally, Evercore ISI raised Wix.com to a “strong-buy” rating in a report on Monday, August 5th.

Wix.com Trading Up 1.9 %

Shares of WIX opened at $159.73 on Monday. The firm has a market cap of $9.13 billion, a PE ratio of 140.11, a price-to-earnings-growth ratio of 3.41 and a beta of 1.48. The company’s 50 day simple moving average is $160.70 and its 200-day simple moving average is $151.91. Wix.com has a 12-month low of $76.90 and a 12-month high of $178.65.

Wix.com (NASDAQ:WIX) last announced its earnings results on Wednesday, August 7th. The information services provider reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.35. The business had revenue of $435.70 million for the quarter, compared to analyst estimates of $442.88 million. Wix.com had a net margin of 4.44% and a negative return on equity of 49.05%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period last year, the firm posted $0.58 earnings per share. As a group, equities research analysts forecast that Wix.com will post 2.1 EPS for the current fiscal year.

Institutional Trading of Wix.com

Hedge funds have recently made changes to their positions in the company. Northwest Bank & Trust Co acquired a new stake in shares of Wix.com during the 4th quarter valued at approximately $26,000. Fidelis Capital Partners LLC acquired a new stake in shares of Wix.com during the first quarter worth $37,000. Industrial Alliance Investment Management Inc. lifted its position in shares of Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after buying an additional 488 shares during the last quarter. Toronto Dominion Bank boosted its holdings in shares of Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after buying an additional 124 shares during the period. Finally, Optimist Retirement Group LLC acquired a new position in shares of Wix.com in the 4th quarter valued at about $201,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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.