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

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

A number of brokerages have recently issued reports on WIX. UBS Group boosted their target price on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $190.00 target price on shares of Wix.com in a report on Wednesday, August 7th. Barclays dropped their price target on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Benchmark increased their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $184.00 to $200.00 in a report on Monday, September 23rd.

Wix.com Stock Performance

Shares of WIX stock opened at $180.33 on Tuesday. Wix.com has a 52 week low of $95.39 and a 52 week high of $192.00. The company has a market capitalization of $9.89 billion, a price-to-earnings ratio of 143.12, a PEG ratio of 3.83 and a beta of 1.47. The company has a 50-day simple moving average of $165.98 and a 200 day simple moving average of $160.53.

Institutional Trading of Wix.com

Several institutional investors have recently added to or reduced their stakes in the stock. Dorsal Capital Management LP grew its holdings in Wix.com by 23.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after acquiring an additional 250,000 shares during the period. Captrust Financial Advisors grew 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 worth $39,864,000 after purchasing an additional 201,532 shares during the period. Renaissance Technologies LLC increased its holdings in 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 purchasing an additional 171,500 shares in the last quarter. Whale Rock Capital Management LLC lifted its stake in 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 valued at $115,475,000 after buying an additional 165,810 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of Wix.com during the 2nd quarter worth approximately $13,646,000. 81.52% of the stock is currently owned by institutional investors.

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.