Wix.com (NASDAQ:WIX) Upgraded at StockNews.com

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 morning.

A number of other research analysts have also weighed in on WIX. JMP Securities reissued a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a research note on Tuesday, February 18th. Citigroup boosted their price objective on Wix.com from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Raymond James raised shares of Wix.com from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. B. Riley lifted their price target on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $245.00 price objective on shares of Wix.com in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Wix.com presently has an average rating of “Moderate Buy” and a consensus price target of $245.83.

Wix.com Price Performance

Shares of NASDAQ WIX opened at $202.02 on Tuesday. Wix.com has a 12 month low of $117.58 and a 12 month high of $247.11. The firm’s 50 day simple moving average is $225.20 and its 200-day simple moving average is $194.39. The stock has a market capitalization of $11.08 billion, a price-to-earnings ratio of 85.97, a PEG ratio of 2.83 and a beta of 1.58.

Wix.com announced that its board has approved a share buyback plan on Thursday, February 27th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its holdings in shares of Wix.com by 518.3% in the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. Durable Capital Partners LP acquired a new position in shares of Wix.com during the 4th quarter worth about $89,839,000. SG Americas Securities LLC boosted its stake in shares of Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after buying an additional 400,265 shares during the last quarter. Whale Rock Capital Management LLC grew its holdings in shares of Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock valued at $229,904,000 after acquiring an additional 380,800 shares in the last quarter. Finally, Senvest Management LLC increased its position in shares of Wix.com by 27.3% in the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after acquiring an additional 304,712 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.