Wix Authorizes $2 Billion Stock Buyback Program
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
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Source: Newsfilter
- Buyback Program Initiation: Wix's Board has authorized a two-year stock buyback program worth up to $2 billion, reflecting confidence in the company's strong cash flow generation and commitment to enhancing shareholder value.
- Diverse Repurchase Methods: The program allows for securities to be repurchased through various methods, including open market purchases and privately negotiated transactions, ensuring compliance with U.S. securities laws and enabling flexibility in market response.
- Clear Funding Sources: Wix plans to fund the buybacks using cash on hand and future cash generated from operations, indicating robust financial management and confidence in future growth prospects.
- Market Reaction Expectations: The implementation of the buyback program is expected to enhance the company's stock market performance, boost investor confidence, and lay the groundwork for future capital operations.
Analyst Views on WIX
Wall Street analysts forecast WIX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for WIX is 172.24 USD with a low forecast of 135.00 USD and a high forecast of 210.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
19 Analyst Rating
18 Buy
1 Hold
0 Sell
Strong Buy
Current: 89.730
Low
135.00
Averages
172.24
High
210.00
Current: 89.730
Low
135.00
Averages
172.24
High
210.00
About WIX
Wix.com Ltd. (Wix) is an Israel-based company engaged in the provision of a web development platform enabling businesses and organizations to take businesses, brands, and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments. These applications provide Wix registered users a bespoke front-end for customers visiting their Website, as well as a back-end management dashboard. The Company has developed these software applications for businesses in specific verticals, including retail and online stores, service providers, hotel and property management, music, and restaurants. These vertical applications are integrated into the Company's Website templates or can be installed on any existing Website and set up by the user and without the need to write code.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
