Wix.com Ltd. (NASDAQ:WIX) Stock Has Consensus Price Target of $91.76 According to Brokerages

Shares of Wix.com Ltd. (NASDAQ:WIX) have earned an average recommendation of “Hold” from the twenty-three research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and eleven have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $93.43.

Several research firms have commented on WIX. Royal Bank Of Canada upped their price objective on Wix.com from $45.00 to $60.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. Benchmark reiterated a “buy” rating on shares of Wix.com in a research note on Wednesday, August 26th. Evercore set a $95.00 target price on Wix.com in a research note on Tuesday, August 4th. Morgan Stanley lowered Wix.com from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $112.00 to $60.00 in a report on Tuesday, July 21st. Finally, Cantor Fitzgerald lifted their price objective on shares of Wix.com from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, October 19th.

Wix.com Stock Performance

NASDAQ WIX opened at $80.38 on Tuesday. Wix.com has a one year low of $40.16 and a one year high of $148.33. The firm’s fifty day moving average is $78.44 and its two-hundred day moving average is $71.01.

Wix.com (NASDAQ:WIX) last announced its earnings results on Tuesday, August 4th. The information services provider reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.26. Wix.com had a negative net margin of 8.19% and a negative return on equity of 1.61%. The business had revenue of $563.06 million during the quarter, compared to the consensus estimate of $552.56 million. During the same quarter in the prior year, the firm earned $2.28 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. As a group, research analysts expect that Wix.com will post 0.24 earnings per share for the current year.

Insider Activity at Wix.com

In other news, CEO Avishai Abrahami acquired 654 shares of the business’s stock in a transaction on Monday, August 31st. The stock was bought at an average price of $59.89 per share, for a total transaction of $39,168.06. Following the transaction, the chief executive officer owned 486,225 shares in the company, valued at $29,120,015.25. This represents a 0.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ron Gutler sold 5,718 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $85.42, for a total transaction of $488,431.56. Following the completion of the sale, the director owned 15,631 shares of the company’s stock, valued at $1,335,200.02. This trade represents a 26.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have bought 2,622 shares of company stock worth $157,032 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in WIX. Engineers Gate Manager LP lifted its holdings in shares of Wix.com by 378.0% in the 2nd quarter. Engineers Gate Manager LP now owns 34,750 shares of the information services provider’s stock valued at $1,577,000 after buying an additional 27,480 shares during the period. Empowered Funds LLC purchased a new stake in shares of Wix.com in the first quarter valued at approximately $2,381,000. Quantinno Capital Management LP boosted its stake in shares of Wix.com by 155.6% in the first quarter. Quantinno Capital Management LP now owns 122,722 shares of the information services provider’s stock valued at $11,054,000 after buying an additional 74,716 shares in the last quarter. Readystate Asset Management LP acquired a new position in Wix.com during the second quarter worth $485,000. Finally, Renaissance Technologies LLC grew its holdings in Wix.com by 52.1% during the first quarter. Renaissance Technologies LLC now owns 576,049 shares of the information services provider’s stock worth $51,885,000 after acquiring an additional 197,200 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

About Wix.com

Wix.com Ltd. is a cloud-based web development and digital business platform that enables individuals, entrepreneurs and organizations to create, manage and grow an online presence. The company provides website templates, a visual drag-and-drop editor, hosting, domain registration and tools for building websites without requiring advanced coding skills.

Wix offers products and services for a range of business needs, including e-commerce, online bookings, payments, marketing, customer relationship management and business communications.