Wix.com (NASDAQ:WIX) Upgraded to Strong-Buy at Raymond James

Raymond James upgraded shares of Wix.com (NASDAQ:WIX) from an outperform rating to a strong-buy rating in a report published on Tuesday morning, Marketbeat reports. Raymond James currently has $300.00 price objective on the information services provider’s stock, up from their previous price objective of $225.00.

A number of other equities research analysts also recently commented on WIX. B. Riley lifted their target price on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Benchmark lifted their target price on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group lifted their target price on Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Citigroup lifted their target price on Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Royal Bank of Canada lifted their target price on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.06.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $238.17 on Tuesday. The company has a market cap of $13.06 billion, a PE ratio of 148.86, a P/E/G ratio of 2.69 and a beta of 1.56. The business has a 50-day simple moving average of $217.71 and a two-hundred day simple moving average of $182.11. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $246.82.

Institutional Trading of Wix.com

Institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. raised its stake in Wix.com by 23.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after purchasing an additional 49,500 shares during the period. Toth Financial Advisory Corp acquired a new stake in shares of Wix.com during the 3rd quarter worth approximately $661,000. Dimensional Fund Advisors LP increased its holdings in shares of Wix.com by 448.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock worth $1,375,000 after buying an additional 7,070 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after buying an additional 11,497 shares during the last quarter. Finally, Lakehouse Capital Pty Ltd increased its holdings in shares of Wix.com by 26.2% during the 3rd quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock worth $10,148,000 after buying an additional 12,600 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.