Wix.com Ltd. (NASDAQ:WIX) Receives $220.59 Consensus PT from Analysts

Wix.com Ltd. (NASDAQ:WIX) has been assigned a consensus rating of “Moderate Buy” from the nineteen brokerages that are presently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $225.82.

A number of brokerages have recently weighed in on WIX. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Piper Sandler boosted their price target on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Wix.com in a research note on Wednesday, November 20th. Citigroup boosted their price target on Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Finally, Bank of America lifted their target price on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th.

Wix.com Stock Performance

Shares of WIX stock opened at $236.36 on Wednesday. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $239.10. The firm has a market capitalization of $12.96 billion, a price-to-earnings ratio of 147.73, a PEG ratio of 4.22 and a beta of 1.56. The stock’s 50-day simple moving average is $212.31 and its 200-day simple moving average is $179.73.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Dorsal Capital Management LP lifted its holdings in Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares during the period. Clearbridge Investments LLC lifted its holdings in Wix.com by 2.9% in the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after acquiring an additional 33,338 shares during the period. Senvest Management LLC increased its position in shares of Wix.com by 4.7% in the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after buying an additional 50,482 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after buying an additional 171,500 shares in the last quarter. Finally, Whale Rock Capital Management LLC increased its position in shares of Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.