Wix.com (NASDAQ:WIX) Earns Buy Rating from Needham & Company LLC

Wix.com (NASDAQ:WIX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They currently have a $200.00 price target on the information services provider’s stock. Needham & Company LLC’s price target points to a potential downside of 8.60% from the company’s previous close.

A number of other equities research analysts have also weighed in on the company. 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 report on Tuesday, October 1st. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a report on Monday, August 5th. JMP Securities reiterated a “market outperform” rating and set a $180.00 price objective on shares of Wix.com in a research note on Thursday, July 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Monday, October 7th. Finally, UBS Group increased their target price on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.44.

Wix.com Stock Performance

Shares of WIX stock opened at $218.82 on Wednesday. The stock has a 50 day moving average price of $168.22 and a 200 day moving average price of $161.75. Wix.com has a 52-week low of $95.65 and a 52-week high of $220.22. The firm has a market capitalization of $12.00 billion, a P/E ratio of 136.76, a P/E/G ratio of 3.91 and a beta of 1.47.

Institutional Trading of Wix.com

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Geode Capital Management LLC lifted its position in shares of Wix.com by 3.2% in the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after acquiring an additional 14,340 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in Wix.com in the third quarter worth approximately $10,523,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Wix.com by 1.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 14,680 shares of the information services provider’s stock worth $2,454,000 after purchasing an additional 170 shares during the period. XTX Topco Ltd raised its stake in shares of Wix.com by 348.6% in the 3rd quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock valued at $1,488,000 after acquiring an additional 6,919 shares during the period. Finally, iA Global Asset Management Inc. raised its position in Wix.com by 9.3% in the third quarter. iA Global Asset Management Inc. now owns 20,271 shares of the information services provider’s stock valued at $3,389,000 after purchasing an additional 1,725 shares during the period. 81.52% of the stock is currently owned by hedge funds and other 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.