Shares of Wix.com Ltd. (NASDAQ:WIX – Get Rating) have received a consensus rating of "Moderate Buy" from the seventeen research firms that are presently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $107.00.
Several brokerages recently issued reports on WIX. StockNews.com began coverage on shares of Wix.com in a report on Thursday, March 16th. They set a "hold" rating for the company. Morgan Stanley lifted their target price on shares of Wix.com from $94.00 to $102.00 and gave the company an "equal weight" rating in a research report on Thursday, February 23rd. Needham & Company LLC lifted their target price on shares of Wix.com from $100.00 to $125.00 in a research note on Thursday, February 23rd. Credit Suisse Group reissued an "outperform" rating and issued a $105.00 price target on shares of Wix.com in a research note on Thursday, February 23rd. Finally, Royal Bank of Canada lifted their price objective on shares of Wix.com from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, February 23rd.
Get Wix.com alerts:Wix.com Stock Up 2.0 %
NASDAQ:WIX opened at $95.17 on Thursday. Wix.com has a 52 week low of $53.12 and a 52 week high of $111.35. The firm has a 50 day moving average of $89.42 and a 200 day moving average of $83.18. The stock has a market capitalization of $5.45 billion, a price-to-earnings ratio of -12.95 and a beta of 1.22.
Institutional Investors Weigh In On Wix.com
Several hedge funds have recently modified their holdings of the business. Baillie Gifford & Co. increased its stake in shares of Wix.com by 0.5% in the third quarter. Baillie Gifford & Co. now owns 8,133,640 shares of the information services provider's stock valued at $636,295,000 after buying an additional 41,723 shares in the last quarter. Eminence Capital LP increased its stake in shares of Wix.com by 29.7% in the second quarter. Eminence Capital LP now owns 1,612,396 shares of the information services provider's stock valued at $105,693,000 after buying an additional 369,651 shares in the last quarter. Millennium Management LLC increased its position in Wix.com by 139.8% in the fourth quarter. Millennium Management LLC now owns 895,821 shares of the information services provider's stock worth $68,826,000 after purchasing an additional 522,264 shares during the period. Clearbridge Investments LLC increased its position in Wix.com by 0.9% in the first quarter. Clearbridge Investments LLC now owns 846,565 shares of the information services provider's stock worth $88,432,000 after purchasing an additional 7,472 shares during the period. Finally, First Trust Advisors LP increased its position in Wix.com by 22,397.5% in the first quarter. First Trust Advisors LP now owns 690,449 shares of the information services provider's stock worth $72,124,000 after purchasing an additional 687,380 shares during the period. 91.90% of the stock is owned by institutional investors.
About Wix.com
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Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.
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