Wix.com Ltd. (NASDAQ:WIX) Receives Average Recommendation of “Moderate Buy” from Brokerages

Wix.com Ltd. (NASDAQ:WIX) has received a consensus recommendation of “Moderate Buy” from the twenty-one research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, fifteen have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $246.05.

Several equities analysts have weighed in on the company. Cantor Fitzgerald lifted their price objective on Wix.com from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price target on shares of Wix.com in a research note on Thursday, February 20th. StockNews.com upgraded shares of Wix.com from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 25th. Wells Fargo & Company started coverage on shares of Wix.com in a research report on Monday, February 3rd. They issued an “underweight” rating and a $208.00 target price for the company. Finally, B. Riley upped their price target on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st.

Wix.com Trading Up 4.9 %

Shares of WIX stock opened at $197.53 on Thursday. The stock has a market cap of $10.83 billion, a P/E ratio of 84.06, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58. Wix.com has a 1 year low of $117.58 and a 1 year high of $247.11. The stock has a 50 day simple moving average of $222.52 and a 200 day simple moving average of $195.61.

Wix.com announced that its Board of Directors has approved a share buyback plan on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to repurchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after buying an additional 1,266,202 shares during the period. Durable Capital Partners LP acquired a new position in shares of Wix.com during the fourth quarter worth $89,839,000. SG Americas Securities LLC lifted its holdings in shares of Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares during the period. Whale Rock Capital Management LLC grew its stake in shares of Wix.com by 55.1% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after purchasing an additional 380,800 shares during the last quarter. Finally, Senvest Management LLC increased its holdings in Wix.com by 27.3% in the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after purchasing an additional 304,712 shares during the period. 81.52% of the stock is currently owned by institutional investors.

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.