Analysts are optimistic about Wix.com, suggesting it could be a solid investment opportunity for savvy investors.
New York: So, Wall Street analysts are buzzing about Wix.com, right? They’re saying it might be a good investment. But how much should we really trust their recommendations?
Wix.com has an average brokerage recommendation of 1.43, which is pretty close to a Strong Buy. Out of 21 firms, 15 are all in for a Strong Buy, while three suggest just a Buy. That’s a solid majority backing it up.
But here’s the kicker: just because analysts are saying “buy” doesn’t mean you should jump in without doing your homework. Studies show that these recommendations don’t always lead to the best investment choices.
Why? Well, brokerage firms often have their own interests at heart. For every “Strong Sell,” they might throw out five “Strong Buy” ratings. So, their advice can be a bit skewed.
It’s smart to use their insights to back up your own research instead of relying solely on them. A tool like the Zacks Rank can help you make better decisions. It’s based on earnings estimate revisions, which are more reliable indicators of stock performance.
Wix.com’s earnings estimates have recently gone up by 3.9%, which is a good sign. Analysts are feeling optimistic, and that could mean the stock might rise soon.
With a Zacks Rank of #2 (Buy), Wix.com looks like it could be a decent pick for investors. So, while the analysts are on board, make sure to do your own digging before you invest.
