Wix.com (NASDAQ:WIX) Raised to “Buy” at StockNews.com

Wix.com (NASDAQ:WIX) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

WIX has been the topic of a number of other reports. Royal Bank of Canada boosted their target price on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday. Needham & Company LLC restated a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a report on Wednesday, November 20th. Barclays lifted their target price on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Benchmark increased their price target on Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Price Performance

Shares of WIX opened at $217.20 on Friday. The firm has a 50 day simple moving average of $170.73 and a two-hundred day simple moving average of $163.10. Wix.com has a one year low of $95.65 and a one year high of $220.22. The company has a market cap of $11.91 billion, a P/E ratio of 135.75, a P/E/G ratio of 4.21 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

Several hedge funds and other institutional investors have recently modified their holdings of WIX. Blue Trust Inc. increased its position in shares of Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after acquiring an additional 98 shares in the last quarter. CWM LLC increased its holdings in Wix.com by 19.0% during the 3rd 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 stake in shares of Wix.com by 19.0% in 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 during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of 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 in the last quarter. Finally, CIBC Asset Management Inc boosted its position in shares of Wix.com by 2.9% during the second quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock valued at $764,000 after buying an additional 136 shares during the last quarter. 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.