Wix.com Ltd. (NASDAQ:WIX) Receives $243.74 Average Target Price from Analysts

Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $243.74.

Several brokerages have recently weighed in on WIX. Wells Fargo & Company cut their price objective on Wix.com from $194.00 to $169.00 and set an “underweight” rating for the company in a report on Friday, March 7th. JMP Securities restated a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a report on Tuesday, February 18th. Citigroup boosted their price objective on Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Bank of America increased their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research report on Wednesday, February 19th. Finally, Jefferies Financial Group lifted their price target on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th.

Institutional Trading of Wix.com

A number of hedge funds have recently bought and sold shares of WIX. Cullen Frost Bankers Inc. lifted its stake in Wix.com by 9.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock worth $130,000 after purchasing an additional 55 shares during the period. Blue Trust Inc. lifted its stake in shares of Wix.com by 28.3% during the fourth quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after acquiring an additional 56 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Wix.com by 2.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock valued at $502,000 after acquiring an additional 63 shares during the last quarter. Finally, Vestcor Inc boosted its position in shares of Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock worth $183,000 after purchasing an additional 63 shares during the last quarter. 81.52% of the stock is owned by institutional investors.

Wix.com Price Performance

Shares of NASDAQ:WIX opened at $166.36 on Monday. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 70.79, a PEG ratio of 2.83 and a beta of 1.64. Wix.com has a 12 month low of $117.58 and a 12 month high of $247.11. The stock’s 50 day moving average price is $204.99 and its 200 day moving average price is $196.52.

Wix.com declared that its board has approved a stock buyback plan on Thursday, February 27th that authorizes the company to buyback $200.00 million in 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 generally an indication that the company’s board of directors believes its shares are undervalued.

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.