Wix.com (NASDAQ:WIX) Coverage Initiated at StockNews.com

Research analysts at StockNews.com assumed coverage on shares of Wix.com (NASDAQ:WIX – Get Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the information services provider’s stock.

A number of other research firms also recently weighed in on WIX. Morgan Stanley upped their price target on Wix.com from $94.00 to $102.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Barclays upped their price target on Wix.com from $78.00 to $87.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Wolfe Research reaffirmed an “outperform” rating and set a $105.00 price target (up from $100.00) on shares of Wix.com in a research note on Thursday, February 23rd. Needham & Company LLC upped their price target on Wix.com from $100.00 to $125.00 in a research note on Thursday, February 23rd. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $105.00 price target on shares of Wix.com in a research note on Thursday, February 23rd. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and an average target price of $105.50.

Wix.com Stock Performance

WIX stock opened at $87.11 on Thursday. The stock’s 50 day simple moving average is $86.76 and its 200 day simple moving average is $81.17. Wix.com has a fifty-two week low of $53.12 and a fifty-two week high of $111.35. The company has a market cap of $4.99 billion, a P/E ratio of -11.85 and a beta of 1.22.

Hedge Funds Weigh In On Wix.com

Several institutional investors have recently modified their holdings of WIX. Bank of New York Mellon Corp grew its holdings in shares of Wix.com by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 303,165 shares of the information services provider’s stock valued at $31,669,000 after acquiring an additional 23,843 shares in the last quarter. US Bancorp DE grew its holdings in shares of Wix.com by 39.7% in the first quarter. US Bancorp DE now owns 2,782 shares of the information services provider’s stock valued at $290,000 after acquiring an additional 791 shares in the last quarter. Citigroup Inc. grew its holdings in shares of Wix.com by 58.1% in the first quarter. Citigroup Inc. now owns 47,694 shares of the information services provider’s stock valued at $4,982,000 after acquiring an additional 17,530 shares in the last quarter. Acadian Asset Management LLC bought a new position in Wix.com during the first quarter valued at $346,000. Finally, Ergoteles LLC grew its holdings in Wix.com by 388.6% during the first quarter. Ergoteles LLC now owns 44,121 shares of the information services provider’s stock valued at $4,609,000 after purchasing an additional 35,091 shares during the period. 91.90% of the stock is owned by institutional investors.

About Wix.com

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Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.