StockNews.com Upgrades Wix.com (NASDAQ:WIX) to Buy

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

Several other analysts have also commented on the company. JPMorgan Chase & Co. lifted their price objective on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Cantor Fitzgerald boosted their price target on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada raised their price objective on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Benchmark boosted their target price on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Piper Sandler increased their price target on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Wix.com presently has an average rating of “Moderate Buy” and a consensus target price of $210.71.

Wix.com Trading Down 0.4 %

Shares of NASDAQ:WIX opened at $222.44 on Friday. Wix.com has a 12-month low of $95.65 and a 12-month high of $224.33. The stock has a fifty day simple moving average of $172.07 and a two-hundred day simple moving average of $164.11. The stock has a market capitalization of $12.19 billion, a price-to-earnings ratio of 139.81, a PEG ratio of 4.24 and a beta of 1.47.

Institutional Trading of Wix.com

Hedge funds have recently modified their holdings of the company. Blue Trust Inc. raised its position 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 buying an additional 98 shares in the last quarter. Advisors Asset Management Inc. lifted its stake 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 valued at $41,000 after purchasing an additional 130 shares during the last quarter. Industrial Alliance Investment Management Inc. boosted its holdings in shares of Wix.com by 246.5% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares during the period. CWM LLC increased its position in shares of Wix.com by 19.0% during 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 last quarter. Finally, Toronto Dominion Bank raised its holdings in 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 during the period. 81.52% of the stock is owned by hedge funds and other 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.