Wix.com (NASDAQ:WIX) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Wix.com (NASDAQ:WIX) in a note issued to investors on Monday, Marketbeat.com reports. The brokerage set an “underweight” rating and a $208.00 price target on the information services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential downside of 8.54% from the company’s current price.

Several other brokerages have also recently issued reports on WIX. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Bank of America increased their price objective on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Piper Sandler boosted their target price on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Robert W. Baird lifted their price objective on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Monday, November 25th. Finally, Barclays upped their target price on Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $232.61.

Wix.com Trading Down 1.3 %

NASDAQ WIX opened at $227.42 on Monday. The stock has a market cap of $12.47 billion, a PE ratio of 142.14, a PEG ratio of 2.66 and a beta of 1.58. Wix.com has a 12 month low of $117.58 and a 12 month high of $247.11. The company’s 50-day moving average price is $225.98 and its 200-day moving average price is $187.93.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of WIX. SG Americas Securities LLC raised its stake in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after purchasing an additional 400,265 shares during the period. Captrust Financial Advisors boosted its position in Wix.com by 545.7% during the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after acquiring an additional 201,532 shares during the period. Whale Rock Capital Management LLC grew its stake in Wix.com by 31.6% during the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after acquiring an additional 165,810 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Wix.com by 90.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 184,099 shares of the information services provider’s stock worth $39,859,000 after purchasing an additional 87,327 shares in the last quarter. Finally, Polar Asset Management Partners Inc. boosted its holdings in shares of Wix.com by 192.9% during the third quarter. Polar Asset Management Partners Inc. now owns 98,500 shares of the information services provider’s stock worth $16,466,000 after purchasing an additional 64,869 shares during the period. Institutional investors own 81.52% of the company’s stock.

About Wix.com

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.