Wix.com (NASDAQ:WIX) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Wix.com (NASDAQ:WIX) from an equal weight rating to an overweight rating in a research note issued to investors on Monday, Marketbeat Ratings reports. They currently have $276.00 price target on the information services provider’s stock, up from their previous price target of $248.00.

A number of other research analysts also recently commented on WIX. Bank of America boosted their price target on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Evercore ISI raised Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. Citigroup boosted their price target on Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Jefferies Financial Group boosted their target price on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Wix.com in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.82.

Wix.com Stock Up 2.7 %

WIX stock opened at $224.58 on Monday. The company has a market cap of $12.31 billion, a PE ratio of 140.36, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56. The business has a 50-day simple moving average of $210.90 and a 200 day simple moving average of $179.19. Wix.com has a 52 week low of $117.58 and a 52 week high of $229.79.

Institutional Trading of Wix.com

Institutional investors have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Wix.com by 23.1% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock valued at $44,055,000 after acquiring an additional 49,500 shares during the last quarter. Toth Financial Advisory Corp bought a new stake in Wix.com in the third quarter valued at approximately $661,000. Dimensional Fund Advisors LP boosted its holdings in Wix.com by 448.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock valued at $1,375,000 after acquiring an additional 7,070 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Wix.com by 60.8% in the third quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after acquiring an additional 11,497 shares during the last quarter. Finally, Lakehouse Capital Pty Ltd boosted its holdings in Wix.com by 26.2% in the third quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock valued at $10,148,000 after acquiring an additional 12,600 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.