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

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

A number of equities analysts have issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a research note on Tuesday, February 18th. StockNews.com upgraded Wix.com from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 25th. Jefferies Financial Group upped their price objective on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Finally, Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $248.00 to $276.00 in a research note on Monday, January 13th.

Wix.com Trading Down 4.3 %

Wix.com stock opened at $166.36 on Monday. Wix.com has a 1 year low of $117.58 and a 1 year high of $247.11. The company’s 50-day moving average is $204.99 and its two-hundred day moving average is $197.13. The company has a market cap of $9.33 billion, a PE ratio of 70.79, a PEG ratio of 2.83 and a beta of 1.64.

Wix.com announced that its board has initiated a share buyback plan on Thursday, February 27th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its stake in shares of Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after buying an additional 130 shares during the last quarter. Avior Wealth Management LLC boosted its position in Wix.com by 79.5% during the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Wix.com in the fourth quarter valued at approximately $43,000. Global Retirement Partners LLC increased its position in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock worth $47,000 after purchasing an additional 58 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Wix.com during the 4th quarter worth approximately $52,000. 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.