Wix.com (NASDAQ:WIX) Stock Rating Upgraded by Morgan Stanley

Wix.com (NASDAQ:WIX) was upgraded by equities researchers at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a report issued on Monday, MarketBeat reports. The firm currently has a $276.00 target price on the information services provider’s stock, up from their prior target price of $248.00. Morgan Stanley’s price target points to a potential upside of 16.77% from the stock’s current price.

WIX has been the subject of a number of other reports. B. Riley upped their price target on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Royal Bank of Canada upped their price objective on shares of Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Citigroup raised their target price on Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 price target on shares of Wix.com in a research report on Wednesday, November 20th. Finally, Piper Sandler lifted their price objective on Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $225.82.

Wix.com Price Performance

Shares of Wix.com stock opened at $236.36 on Monday. Wix.com has a one year low of $117.58 and a one year high of $239.10. The business’s 50 day simple moving average is $212.31 and its two-hundred day simple moving average is $179.73. The stock has a market capitalization of $12.96 billion, a P/E ratio of 147.73, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56.

Institutional Investors Weigh In On Wix.com

Several institutional investors have recently modified their holdings of the business. Blue Trust Inc. lifted its holdings 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 during the period. Advisors Asset Management Inc. lifted its holdings 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 acquiring an additional 130 shares during the period. CWM LLC boosted its position in Wix.com by 19.0% in the third 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. GAMMA Investing LLC grew its stake in shares of Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock valued at $116,000 after purchasing an additional 491 shares during the period. Finally, Toronto Dominion Bank increased its position 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 valued at $124,000 after purchasing an additional 124 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.