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

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a research note released on Saturday morning.

WIX has been the subject of a number of other research reports. UBS Group increased their target price on shares of Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Barclays raised their price objective on Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday. Cantor Fitzgerald upped their target price on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America raised their price target on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, B. Riley upped their price objective on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.44.

Wix.com Stock Performance

WIX stock opened at $217.20 on Friday. Wix.com has a one year low of $95.65 and a one year high of $220.22. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of 135.75, a PEG ratio of 4.21 and a beta of 1.47. The firm has a 50-day simple moving average of $170.73 and a two-hundred day simple moving average of $162.82.

Hedge Funds Weigh In On Wix.com

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in shares of Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 98 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Wix.com by 112.1% during the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. CWM LLC increased its position in shares of Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after buying an additional 101 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its position in shares of Wix.com by 246.5% in the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after buying an additional 488 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after buying an additional 124 shares in the last quarter. Hedge funds and other 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.