Wix.com (NASDAQ:WIX) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Wix.com (NASDAQ:WIX) from a buy rating to a hold rating in a research note released on Friday morning.

A number of other equities research analysts have also weighed in on the stock. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a report on Monday, August 5th. KeyCorp assumed coverage on Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating on the stock. JMP Securities restated a “market outperform” rating and set a $180.00 target price on shares of Wix.com in a research note on Thursday, July 25th. Barclays dropped their price target 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, Benchmark upped their target price on shares of Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $190.06.

Wix.com Stock Up 0.2 %

Wix.com stock opened at $180.33 on Friday. Wix.com has a 52-week low of $95.39 and a 52-week high of $192.00. The firm has a market cap of $9.89 billion, a PE ratio of 143.12, a price-to-earnings-growth ratio of 3.83 and a beta of 1.47. The company’s 50 day moving average is $165.98 and its two-hundred day moving average is $160.53.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Blue Trust Inc. lifted its position in shares of 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 acquiring an additional 98 shares in the last quarter. Advisors Asset Management Inc. raised its stake in 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. lifted its holdings in 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 valued at $94,000 after purchasing an additional 488 shares in the last quarter. CWM LLC boosted its stake 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 worth $106,000 after purchasing an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of 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 buying an additional 124 shares in the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.