Wix.com (NASDAQ:WIX) Stock Rating Upgraded by StockNews.com

Wix.com (NASDAQ:WIX) was upgraded by investment analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.

WIX has been the subject of several other reports. Wells Fargo & Company initiated coverage on shares of Wix.com in a research note on Monday, February 3rd. They set an “underweight” rating and a $208.00 target price for the company. Bank of America lifted their price target on shares of Wix.com from $228.00 to $270.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Jefferies Financial Group upped their price target on shares of Wix.com from $225.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Royal Bank of Canada reissued an “outperform” rating and set a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Finally, B. Riley upped their price target on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, Wix.com has a consensus rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Stock Down 1.5 %

WIX traded down $3.11 during trading on Tuesday, hitting $199.21. The company’s stock had a trading volume of 1,059,096 shares, compared to its average volume of 855,033. Wix.com has a one year low of $117.58 and a one year high of $247.11. The firm has a market cap of $10.92 billion, a PE ratio of 84.77, a P/E/G ratio of 2.83 and a beta of 1.58. The business’s 50 day simple moving average is $225.92 and its 200-day simple moving average is $194.10.

Hedge Funds Weigh In On Wix.com

Several large investors have recently added to or reduced their stakes in WIX. Wellington Management Group LLP lifted its stake in Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. Durable Capital Partners LP bought a new stake in Wix.com in the fourth quarter valued at $89,839,000. SG Americas Securities LLC lifted its stake in Wix.com by 558.5% in the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after buying an additional 400,265 shares during the last quarter. Whale Rock Capital Management LLC lifted its stake in Wix.com by 55.1% in the fourth 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 buying an additional 380,800 shares during the last quarter. Finally, Senvest Management LLC lifted its stake in 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 buying an additional 304,712 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.