Wix.com (NASDAQ:WIX) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a buy rating to a strong-buy rating in a research note released on Tuesday.

A number of other brokerages have also weighed in on WIX. Robert W. Baird lifted their price objective on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 price objective on shares of Wix.com in a report on Wednesday, February 19th. Raymond James raised Wix.com from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $225.00 to $300.00 in a report on Tuesday, January 21st. Barclays lifted their price objective on Wix.com from $236.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 price objective on shares of Wix.com in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $245.83.

Wix.com Stock Down 1.5 %

Shares of WIX stock opened at $199.21 on Tuesday. The stock has a market capitalization of $10.92 billion, a PE ratio of 84.77, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58. Wix.com has a 52-week low of $117.58 and a 52-week high of $247.11. The stock’s 50-day moving average price is $225.92 and its 200 day moving average price is $194.10.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Creative Planning raised its holdings in Wix.com by 15.8% in the 3rd quarter. Creative Planning now owns 9,310 shares of the information services provider’s stock valued at $1,556,000 after acquiring an additional 1,269 shares during the last quarter. Blue Trust Inc. raised its holdings in Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 98 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Wix.com by 13.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 13,519 shares of the information services provider’s stock valued at $2,260,000 after acquiring an additional 1,584 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Wix.com by 7.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 2,275 shares of the information services provider’s stock valued at $380,000 after acquiring an additional 165 shares during the last quarter. Finally, First Trust Direct Indexing L.P. raised its holdings in Wix.com by 35.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,024 shares of the information services provider’s stock valued at $338,000 after acquiring an additional 529 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.