Brokerages Set Wix.com Ltd. (NASDAQ:WIX) PT at $245.83

Shares of Wix.com Ltd. (NASDAQ:WIX) have been given a consensus rating of “Moderate Buy” by the twenty brokerages that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, fourteen have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $245.83.

A number of equities research analysts have recently issued reports on the stock. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Robert W. Baird upped their target price 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. Bank of America upped their target price on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a report on Wednesday, February 19th. Cantor Fitzgerald upped their target price on shares of Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Finally, Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $189.37 on Thursday. Wix.com has a one year low of $117.58 and a one year high of $247.11. The firm has a market cap of $10.38 billion, a PE ratio of 80.58, a PEG ratio of 2.83 and a beta of 1.58. The firm has a fifty day moving average of $223.85 and a 200 day moving average of $195.42.

Wix.com declared that its board has approved a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to reacquire up to 1.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp lifted its position in Wix.com by 211.0% in the fourth quarter. Mackenzie Financial Corp now owns 29,395 shares of the information services provider’s stock valued at $6,307,000 after buying an additional 19,943 shares during the last quarter. JT Stratford LLC acquired a new position in Wix.com in the fourth quarter valued at about $218,000. USS Investment Management Ltd lifted its position in Wix.com by 12.5% in the fourth quarter. USS Investment Management Ltd now owns 10,404 shares of the information services provider’s stock valued at $2,232,000 after buying an additional 1,157 shares during the last quarter. Voloridge Investment Management LLC lifted its position in shares of Wix.com by 15.7% during the fourth quarter. Voloridge Investment Management LLC now owns 380,909 shares of the information services provider’s stock worth $81,724,000 after purchasing an additional 51,581 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Wix.com by 68.0% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 106,187 shares of the information services provider’s stock worth $22,782,000 after purchasing an additional 42,969 shares in the last quarter. 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.