Wix.com’s (WIX) “Buy” Rating Reiterated at Needham & Company LLC

Wix.com (NASDAQ:WIX)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $200.00 target price on the information services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 8.73% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. JMP Securities reaffirmed a “market outperform” rating and issued a $180.00 price target on shares of Wix.com in a research report on Thursday, July 25th. Benchmark upped their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. KeyCorp assumed coverage on shares of Wix.com in a research note on Thursday, July 25th. They issued a “sector weight” rating on the stock. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Finally, StockNews.com downgraded shares of Wix.com from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $194.13.

Wix.com Stock Up 2.0 %

NASDAQ:WIX opened at $183.95 on Wednesday. The company’s 50 day moving average is $166.46 and its 200-day moving average is $160.95. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 145.99, a P/E/G ratio of 3.84 and a beta of 1.47. Wix.com has a 12 month low of $95.39 and a 12 month high of $192.00.

Institutional Trading of Wix.com

Several institutional investors have recently bought and sold shares of the stock. Dorsal Capital Management LP boosted its stake in shares of Wix.com by 23.8% in the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after purchasing an additional 250,000 shares in the last quarter. Captrust Financial Advisors increased its holdings in shares of Wix.com by 545.7% during the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock worth $39,864,000 after buying an additional 201,532 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Wix.com by 27.9% during the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after buying an additional 171,500 shares in the last quarter. Whale Rock Capital Management LLC raised its stake in shares of Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after acquiring an additional 165,810 shares during the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Wix.com in the 2nd quarter worth approximately $13,646,000. Institutional investors and hedge funds 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.