Wix.com (NASDAQ:WIX) Upgraded at Raymond James

Raymond James upgraded shares of Wix.com (NASDAQ:WIX) from an outperform rating to a strong-buy rating in a research note issued to investors on Tuesday morning, MarketBeat reports. The brokerage currently has $300.00 price objective on the information services provider’s stock, up from their prior price objective of $225.00.

WIX has been the topic of a number of other reports. Barclays boosted their target price on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Benchmark boosted their price objective on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday, November 20th. Piper Sandler lifted their target price on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Finally, Cantor Fitzgerald upped their price target on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $234.06.

Wix.com Stock Performance

Wix.com stock opened at $236.56 on Tuesday. Wix.com has a 1 year low of $117.58 and a 1 year high of $246.82. The firm’s 50 day moving average price is $219.71 and its two-hundred day moving average price is $183.07. The firm has a market cap of $12.97 billion, a price-to-earnings ratio of 147.85, a price-to-earnings-growth ratio of 2.66 and a beta of 1.56.

Institutional Investors Weigh In On Wix.com

Several large investors have recently made changes to their positions in WIX. Dimensional Fund Advisors LP boosted its holdings in Wix.com by 448.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock worth $1,375,000 after purchasing an additional 7,070 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Wix.com during the second quarter valued at about $259,000. Mount Yale Investment Advisors LLC acquired a new stake in shares of Wix.com in the second quarter worth about $716,000. Public Sector Pension Investment Board boosted its stake in shares of Wix.com by 3.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 22,215 shares of the information services provider’s stock worth $3,534,000 after acquiring an additional 781 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Wix.com by 11.0% during the 2nd quarter. Bank of Montreal Can now owns 23,577 shares of the information services provider’s stock valued at $3,757,000 after acquiring an additional 2,330 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

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.