Wix.com (NASDAQ:WIX) Stock Rating Upgraded by Raymond James

Wix.com (NASDAQ:WIX) was upgraded by investment analysts at Raymond James from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage currently has a $300.00 price target on the information services provider’s stock, up from their previous price target of $225.00. Raymond James’ price objective would suggest a potential upside of 24.34% from the stock’s previous close.

Other equities research analysts also recently issued reports about the company. Benchmark raised their target price on Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Morgan Stanley upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Jefferies Financial Group upped their target price on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Bank of America boosted their price objective on shares of Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Citigroup raised their target price on Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and an average target price of $234.06.

Wix.com Stock Performance

Wix.com stock traded up $0.38 during trading on Tuesday, reaching $241.27. 32,461 shares of the company’s stock were exchanged, compared to its average volume of 767,849. The company’s 50-day moving average is $217.71 and its two-hundred day moving average is $182.11. Wix.com has a 52-week low of $117.58 and a 52-week high of $246.82. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 151.31, a PEG ratio of 2.69 and a beta of 1.56.

Institutional Investors Weigh In On Wix.com

Hedge funds have recently made changes to their positions in the business. Dorsal Capital Management LP lifted its holdings in Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares during the period. Clearbridge Investments LLC increased its stake in shares of Wix.com by 2.9% during the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after acquiring an additional 33,338 shares during the period. Senvest Management LLC increased its stake in shares of Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after acquiring an additional 50,482 shares during the period. Whale Rock Capital Management LLC lifted its position in Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Institutional investors own 81.52% of the company’s stock.

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.