Wix.com (NASDAQ:WIX) Rating Increased to Buy at StockNews.com

Wix.com (NASDAQ:WIX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other brokerages also recently issued reports on WIX. Needham & Company LLC reaffirmed a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a research report on Wednesday. Bank of America raised their price target on shares of Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler boosted their price objective on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday. Royal Bank of Canada raised their target price on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Benchmark boosted their price target on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.44.

Wix.com Stock Performance

WIX stock opened at $217.20 on Friday. The firm has a market cap of $11.91 billion, a P/E ratio of 135.75, a price-to-earnings-growth ratio of 3.91 and a beta of 1.47. Wix.com has a 1 year low of $95.65 and a 1 year high of $220.22. The stock has a 50-day simple moving average of $169.52 and a 200-day simple moving average of $162.14.

Institutional Trading of Wix.com

Several institutional investors have recently added to or reduced their stakes in WIX. Blue Trust Inc. boosted its stake in 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 during the period. Advisors Asset Management Inc. lifted its holdings 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 worth $41,000 after purchasing an additional 130 shares during the last quarter. CWM LLC boosted its position in 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 period. Industrial Alliance Investment Management Inc. grew its stake in 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 buying an additional 488 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in Wix.com by 19.0% in 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 during the period. Institutional investors 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.