StockNews.com Downgrades Wix.com (NASDAQ:WIX) to Hold

Wix.com (NASDAQ:WIX) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Friday.

Several other research firms have also commented on WIX. JMP Securities reissued a “market outperform” rating and issued a $180.00 target price on shares of Wix.com in a report on Thursday, July 25th. Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $184.00 to $200.00 in a report on Monday, September 23rd. Barclays decreased their target price on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Needham & Company LLC reiterated a “buy” rating and issued a $190.00 price target on shares of Wix.com in a research note on Wednesday, August 7th. Finally, Benchmark raised their price objective on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $190.06.

Wix.com Stock Down 2.2 %

NASDAQ WIX opened at $180.01 on Friday. Wix.com has a 52 week low of $92.25 and a 52 week high of $192.00. The firm has a 50 day moving average of $165.98 and a two-hundred day moving average of $159.95. The stock has a market capitalization of $9.87 billion, a PE ratio of 142.87, a price-to-earnings-growth ratio of 3.91 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

Several large investors have recently modified their holdings of WIX. Blue Trust Inc. raised its position in Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. CWM LLC raised its holdings in Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares in the last quarter. Toronto Dominion Bank raised its holdings in Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares in the last quarter. Advisors Asset Management Inc. lifted its position in Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 130 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in Wix.com by 2.9% in the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock valued at $764,000 after purchasing an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd., together with its subsidiaries, operates as a cloud-based web development platform for registered users and creators worldwide. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; and Wix ADI that enables users to have the freedom of customization that the classic editor offers.