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

StockNews.com downgraded shares of Wix.com (NASDAQ:WIX) from a buy rating to a hold rating in a research report report published on Friday.

WIX has been the subject of several other reports. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a report on Monday, October 7th. Needham & Company LLC reiterated a “buy” rating and set a $190.00 target price on shares of Wix.com in a research report on Wednesday, August 7th. Barclays decreased their price objective on shares of Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Finally, UBS Group raised their target price on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $190.06.

Wix.com Price Performance

WIX stock traded down $4.00 during mid-day trading on Friday, reaching $180.01. The company had a trading volume of 338,996 shares, compared to its average volume of 388,546. Wix.com has a 52 week low of $92.25 and a 52 week high of $192.00. The stock has a 50 day simple moving average of $165.51 and a two-hundred day simple moving average of $159.54. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 142.87, a PEG ratio of 3.91 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

Large investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after buying an additional 98 shares during the period. Advisors Asset Management Inc. raised its position in shares of Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after acquiring an additional 130 shares in the last quarter. CWM LLC lifted its stake in shares of Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 101 shares during the period. Industrial Alliance Investment Management Inc. boosted its position in shares of Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after purchasing an additional 488 shares in the last quarter. Finally, Toronto Dominion Bank grew its stake in Wix.com by 19.0% during the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares during the period. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.