Wix.com’s (WIX) Market Outperform Rating Reiterated at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a $240.00 target price on the information services provider’s stock.

WIX has been the topic of several other reports. B. Riley lifted their target price on Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Jefferies Financial Group boosted their price objective on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. StockNews.com raised Wix.com from a “hold” rating to a “buy” rating in a research note on Saturday, November 23rd. Citigroup boosted their price objective on Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Wells Fargo & Company began coverage on Wix.com in a research note on Monday, February 3rd. They issued an “underweight” rating and a $208.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $245.11.

Wix.com Trading Down 6.2 %

Shares of WIX opened at $203.65 on Tuesday. The company has a market capitalization of $11.16 billion, a PE ratio of 127.28, a PEG ratio of 2.54 and a beta of 1.58. Wix.com has a 12 month low of $117.58 and a 12 month high of $247.11. The stock’s 50-day moving average price is $226.63 and its two-hundred day moving average price is $192.98.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WIX. Wellington Management Group LLP raised its stake in Wix.com by 518.3% during the 4th quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after buying an additional 1,266,202 shares during the period. Durable Capital Partners LP bought a new stake in Wix.com during the 4th quarter worth approximately $89,839,000. SG Americas Securities LLC increased its holdings in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in Wix.com by 55.1% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after purchasing an additional 380,800 shares in the last quarter. Finally, Senvest Management LLC increased its holdings in Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after purchasing an additional 304,712 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.