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

Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus rating of “Moderate Buy” from the twenty-one research firms that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $243.74.

WIX has been the topic of several recent research reports. Barclays lifted their price objective on shares of Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Citigroup boosted their target price on shares of Wix.com from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, February 20th. Cantor Fitzgerald lifted their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Benchmark lifted their target price on shares of Wix.com from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, February 20th. Finally, Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $225.00 to $300.00 in a research report on Tuesday, January 21st.

Wix.com Stock Up 1.9 %

Shares of NASDAQ:WIX opened at $172.33 on Monday. The company has a market cap of $9.45 billion, a PE ratio of 73.33, a P/E/G ratio of 2.83 and a beta of 1.64. The company’s 50-day moving average price is $211.60 and its 200 day moving average price is $196.60. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

Wix.com declared that its board has initiated a stock repurchase program 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 buy up to 1.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in Wix.com by 8.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,468 shares of the information services provider’s stock worth $530,000 after buying an additional 193 shares in the last quarter. Mackenzie Financial Corp lifted its stake in shares of Wix.com by 211.0% in the 4th quarter. Mackenzie Financial Corp now owns 29,395 shares of the information services provider’s stock valued at $6,307,000 after purchasing an additional 19,943 shares during the period. JT Stratford LLC acquired a new position in shares of Wix.com in the 4th quarter valued at $218,000. USS Investment Management Ltd lifted its stake in shares of Wix.com by 12.5% in the 4th quarter. USS Investment Management Ltd now owns 10,404 shares of the information services provider’s stock valued at $2,232,000 after purchasing an additional 1,157 shares during the period. Finally, Voloridge Investment Management LLC lifted its stake in shares of Wix.com by 15.7% in the 4th quarter. Voloridge Investment Management LLC now owns 380,909 shares of the information services provider’s stock valued at $81,724,000 after purchasing an additional 51,581 shares during the period. Institutional investors and hedge funds 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.