Fintel reports that on January 13, 2025, Morgan Stanley upgraded their outlook for Wix.com (NasdaqGS:WIX) from Equal-Weight to Overweight.
Analyst Price Forecast Suggests 5.99% Upside
As of December 23, 2024, the average one-year price target for Wix.com is $238.13/share. The forecasts range from a low of $154.65 to a high of $273.00. The average price target represents an increase of 5.99% from its latest reported closing price of $224.67 / share.
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The projected annual revenue for Wix.com is 1,847MM, an increase of 8.39%. The projected annual non-GAAP EPS is 2.86.
What is the Fund Sentiment?
There are 698 funds or institutions reporting positions in Wix.com. This is an increase of 37 owner(s) or 5.60% in the last quarter. Average portfolio weight of all funds dedicated to WIX is 0.37%, an increase of 10.78%. Total shares owned by institutions decreased in the last three months by 0.48% to 51,618K shares. 
The put/call ratio of WIX is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 6,462K shares representing 11.54% ownership of the company. In its prior filing, the firm reported owning 7,188K shares , representing a decrease of 11.24%. The firm decreased its portfolio allocation in WIX by 9.25% over the last quarter.
VWIGX - Vanguard International Growth Fund Investor Shares holds 3,548K shares representing 6.34% ownership of the company. In its prior filing, the firm reported owning 4,007K shares , representing a decrease of 12.92%. The firm decreased its portfolio allocation in WIX by 8.70% over the last quarter.
Acadian Asset Management holds 2,203K shares representing 3.94% ownership of the company. In its prior filing, the firm reported owning 2,231K shares , representing a decrease of 1.26%. The firm increased its portfolio allocation in WIX by 4.70% over the last quarter.
Starboard Value holds 1,877K shares representing 3.35% ownership of the company. No change in the last quarter.
Lazard Asset Management holds 1,435K shares representing 2.56% ownership of the company. In its prior filing, the firm reported owning 1,671K shares , representing a decrease of 16.45%. The firm decreased its portfolio allocation in WIX by 3.79% over the last quarter.
Wix.com Background Information
(This description is provided by the company.)
Wix is leading the way with a cloud-based website development platform for over 189 million registered users worldwide today. The Wix website builder was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, artists, and individuals to take their businesses, brands and workflow online. The Wix Editor, Wix ADI, Editor X, a highly curated App Market, Ascend by Wix and Corvid by Wix enable users to build and manage a fully integrated and dynamic digital presence. Wix's headquarters are in Tel Aviv with offices in Austin, Be'er Sheva, Berlin, Cedar Rapids, Denver, Dnipro, Dublin, Kiev, Los Angeles, Miami, New York, San Francisco, São Paulo, Tokyo and Vilnius.
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This story originally appeared on Fintel.
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