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

Needham & Company LLC reiterated their buy rating on shares of Wix.com (NASDAQ:WIX) in a research note published on Wednesday morning,Benzinga reports. The firm currently has a $200.00 target price on the information services provider’s stock.

Several other equities research analysts have also weighed in on the company. Benchmark boosted their target price on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a research note on Monday, October 7th. JMP Securities reiterated a “market outperform” rating and issued a $180.00 target price on shares of Wix.com in a research note on Thursday, July 25th. UBS Group boosted their target price on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Finally, StockNews.com downgraded Wix.com from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Stock Down 0.9 %

Wix.com stock opened at $217.20 on Wednesday. Wix.com has a 12 month low of $95.65 and a 12 month high of $220.22. The stock has a market cap of $11.91 billion, a P/E ratio of 135.75, a P/E/G ratio of 4.25 and a beta of 1.47. The company’s fifty day simple moving average is $170.73 and its 200-day simple moving average is $162.82.

Institutional Investors Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in WIX. Blue Trust Inc. boosted its holdings in Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. grew its stake in Wix.com by 112.1% in the third 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 in the last quarter. CWM LLC grew its stake in Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 101 shares in the last quarter. Industrial Alliance Investment Management Inc. increased 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 worth $94,000 after purchasing an additional 488 shares during the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Wix.com by 19.0% during the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after purchasing an additional 124 shares in the last quarter. 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.