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

Shares of Wix.com Ltd. (NASDAQ:WIX) have been given an average recommendation of “Moderate Buy” by the nineteen analysts that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $220.59.

WIX has been the subject of a number of recent research reports. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. 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 research report on Thursday, November 21st. Robert W. Baird increased their price objective on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. JPMorgan Chase & Co. boosted their target price on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, November 20th. Finally, Needham & Company LLC restated a “buy” rating and issued a $200.00 price target on shares of Wix.com in a research note on Wednesday, November 20th.

Wix.com Stock Down 2.7 %

Shares of WIX stock opened at $220.71 on Wednesday. The business has a 50 day moving average of $205.28 and a two-hundred day moving average of $176.91. The company has a market cap of $12.10 billion, a P/E ratio of 137.94, a PEG ratio of 4.22 and a beta of 1.56. Wix.com has a 52 week low of $117.58 and a 52 week high of $229.79.

Hedge Funds Weigh In On Wix.com

Several hedge funds have recently made changes to their positions in the business. Dorsal Capital Management LP lifted its holdings in shares of Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after purchasing an additional 250,000 shares during the last quarter. Captrust Financial Advisors lifted its stake in Wix.com by 545.7% during the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after buying an additional 201,532 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after buying an additional 171,500 shares during the period. Whale Rock Capital Management LLC increased its position in shares of Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after acquiring an additional 165,810 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in shares of Wix.com during the second quarter valued at approximately $13,646,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

Wix.com Company Profile

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.