Wix.com (NASDAQ:WIX) Rating Increased to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Wix.com (NASDAQ:WIX) from a buy rating to a strong-buy rating in a research note issued to investors on Saturday.

A number of other research analysts also recently commented on the company. Citigroup dropped their price target on Wix.com from $280.00 to $238.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Cfra Research downgraded Wix.com from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $250.00 price target on shares of Wix.com in a research note on Friday, June 20th. Robert W. Baird raised Wix.com from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $215.00 to $190.00 in a research note on Friday, May 23rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price target on shares of Wix.com in a research note on Wednesday, June 18th. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wix.com presently has an average rating of “Buy” and an average target price of $228.95.

Wix.com Stock Down 0.2%

WIX stock opened at $164.17 on Friday. The company has a market cap of $9.21 billion, a PE ratio of 65.41, a price-to-earnings-growth ratio of 2.62 and a beta of 1.31. The business has a 50-day simple moving average of $162.11 and a 200 day simple moving average of $185.95. Wix.com has a 52 week low of $137.94 and a 52 week high of $247.11.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of WIX. Wellington Management Group LLP grew its holdings in shares of Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after purchasing an additional 1,266,202 shares during the last quarter. Durable Capital Partners LP bought a new stake in shares of Wix.com during the fourth quarter worth about $89,839,000. Whale Rock Capital Management LLC grew its holdings in shares of Wix.com by 55.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after purchasing an additional 380,800 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Wix.com by 1,209.4% during the first quarter. Assenagon Asset Management S.A. now owns 344,713 shares of the information services provider’s stock worth $56,319,000 after purchasing an additional 318,387 shares during the last quarter. Finally, Senvest Management LLC grew its holdings in shares of Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after purchasing an additional 304,712 shares during 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.