Wix's board of directors has approved an expansion of its share repurchase program by an additional $200 million. This new authorization is in addition to the earlier approval of $200 million granted on February 26, bringing the total potential buyback allocation to $400 million. This move signals the company's strategic effort to return capital to shareholders and demonstrates its confidence in its market standing and financial health.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 21 analysts, the average target price for Wix.com Ltd (WIX, Financial) is $238.05 with a high estimate of $300.00 and a low estimate of $169.11. The average target implies an upside of 30.99% from the current price of $181.74. More detailed estimate data can be found on the Wix.com Ltd (WIX) Forecast page.
Based on the consensus recommendation from 25 brokerage firms, Wix.com Ltd's (WIX, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Wix.com Ltd (WIX, Financial) in one year is $123.19, suggesting a downside of 32.22% from the current price of $181.74. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Wix.com Ltd (WIX) Summary page.
