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

Wix.com Ltd. (NASDAQ:WIX) has been given an average recommendation of “Moderate Buy” by the twenty-two ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have given a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $96.70.

Several research analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of Wix.com from $125.00 to $112.00 and set an “overweight” rating on the stock in a report on Monday, May 18th. Benchmark restated a “buy” rating on shares of Wix.com in a research note on Tuesday, June 9th. Cantor Fitzgerald cut their price target on Wix.com from $110.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Citigroup cut their price target on Wix.com from $66.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, June 9th. Finally, Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Wix.com in a report on Monday, June 15th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WIX. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Wix.com by 7.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,707 shares of the information services provider’s stock worth $172,000 after buying an additional 120 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Wix.com by 122.2% in the fourth quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 132 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Wix.com by 2.2% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,666 shares of the information services provider’s stock valued at $693,000 after acquiring an additional 142 shares in the last quarter. TD Private Client Wealth LLC grew its stake in shares of Wix.com by 18.7% in the fourth quarter. TD Private Client Wealth LLC now owns 940 shares of the information services provider’s stock valued at $98,000 after acquiring an additional 148 shares in the last quarter. Finally, Cerity Partners LLC increased its position in Wix.com by 13.4% during the second quarter. Cerity Partners LLC now owns 1,484 shares of the information services provider’s stock worth $235,000 after acquiring an additional 175 shares during the period. 81.52% of the stock is owned by institutional investors.

Wix.com Trading Down 2.5%

Shares of Wix.com stock opened at $51.45 on Friday. Wix.com has a 1 year low of $40.16 and a 1 year high of $190.93. The company’s fifty day simple moving average is $51.03 and its 200-day simple moving average is $71.15. The company has a market cap of $3.00 billion, a price-to-earnings ratio of -65.96 and a beta of 0.93.

Wix.com (NASDAQ:WIX) last released its earnings results on Wednesday, May 13th. The information services provider reported $0.68 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.53). Wix.com had a negative net margin of 1.97% and a negative return on equity of 33.28%. The company had revenue of $541.17 million for the quarter, compared to analyst estimates of $544.04 million. During the same quarter in the previous year, the company earned $1.69 earnings per share. Wix.com’s revenue for the quarter was up 14.2% compared to the same quarter last year. As a group, research analysts forecast that Wix.com will post -0.17 earnings per share for the current fiscal year.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.