Wix.com (NASDAQ:WIX) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Wix.com (NASDAQ:WIX) was upgraded by analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.

A number of other research analysts also recently commented on the stock. UBS Group lowered their price objective on shares of Wix.com from $255.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, May 22nd. B. Riley reaffirmed a “buy” rating and set a $230.00 price objective (down from $240.00) on shares of Wix.com in a research report on Wednesday, May 28th. Baird R W raised shares of Wix.com from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 23rd. Royal Bank Of Canada lowered their price objective on shares of Wix.com from $245.00 to $210.00 and set an “outperform” rating on the stock in a research report on Thursday, May 22nd. Finally, Morgan Stanley lowered their price objective on shares of Wix.com from $276.00 to $207.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Three investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Wix.com currently has a consensus rating of “Buy” and an average price target of $228.95.

Wix.com Stock Performance

Shares of WIX opened at $164.17 on Friday. The company’s 50 day moving average price is $162.11 and its 200 day moving average price is $186.15. Wix.com has a 52 week low of $137.94 and a 52 week high of $247.11. The company has a market capitalization of $9.21 billion, a PE ratio of 65.41, a PEG ratio of 2.62 and a beta of 1.31.

Institutional Trading of Wix.com

Several large investors have recently made changes to their positions in WIX. Northwestern Mutual Wealth Management Co. boosted its stake in Wix.com by 63.5% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 66 shares during the period. Twin Tree Management LP bought a new stake in Wix.com during the 1st quarter valued at approximately $29,000. Geneos Wealth Management Inc. boosted its stake in Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 215 shares during the period. SBI Securities Co. Ltd. bought a new stake in Wix.com during the 4th quarter valued at approximately $52,000. Finally, Jones Financial Companies Lllp boosted its stake in Wix.com by 559.6% during the 4th quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider’s stock valued at $74,000 after purchasing an additional 291 shares during the period. 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.