Wix.Com Ltd (WIX) Receives $55.14 Average Price Target from Analysts

Wix.Com Ltd (NASDAQ:WIX) has been given an average rating of “Buy” by the fifteen research firms that are covering the company. Seven research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $56.65.

A number of equities analysts have commented on the company. Zacks Investment Research downgraded Wix.Com from a “buy” rating to a “hold” rating in a research note on Wednesday. Raymond James Financial, Inc. restated a “market perform” rating on shares of Wix.Com in a research note on Thursday, April 13th. They noted that the move was a valuation call. Cantor Fitzgerald downgraded Wix.Com from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $65.00 to $80.00 in a research note on Tuesday, April 11th. Barclays PLC assumed coverage on Wix.Com in a research note on Tuesday, March 28th. They issued an “overweight” rating and a $80.00 target price for the company. Finally, Citigroup Inc assumed coverage on Wix.Com in a research note on Monday, March 27th. They issued a “neutral” rating and a $68.00 target price for the company.

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Large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in Wix.Com during the fourth quarter worth $2,178,000. BlackRock Advisors LLC increased its stake in Wix.Com by 80.7% in the third quarter. BlackRock Advisors LLC now owns 184,145 shares of the information services provider’s stock worth $7,997,000 after buying an additional 82,237 shares during the period. Acadian Asset Management LLC increased its stake in Wix.Com by 181.8% in the third quarter. Acadian Asset Management LLC now owns 139,179 shares of the information services provider’s stock worth $6,045,000 after buying an additional 89,788 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Wix.Com during the third quarter worth $3,631,000. Finally, A.R.T. Advisors LLC purchased a new stake in Wix.Com during the fourth quarter worth $2,370,000. Hedge funds and other institutional investors own 76.19% of the company’s stock.

Shares of Wix.Com (NASDAQ:WIX) traded up 1.74% during trading on Tuesday, hitting $70.10. The stock had a trading volume of 483,192 shares. Wix.Com has a 12 month low of $23.41 and a 12 month high of $79.30. The stock’s market cap is $3.14 billion. The company’s 50 day moving average price is $69.11 and its 200 day moving average price is $53.98.

Wix.Com (NASDAQ:WIX) last announced its quarterly earnings data on Wednesday, February 15th. The information services provider reported $0.06 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.03. The firm earned $84.18 million during the quarter, compared to the consensus estimate of $81.67 million. The firm’s quarterly revenue was up 48.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.13) earnings per share. Equities research analysts expect that Wix.Com will post $0.31 earnings per share for the current fiscal year.

About Wix.Com

Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.

5 Day Chart for NASDAQ:WIX

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