Wix.com (NASDAQ:WIX) Earns Outperform Rating from Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Wix.com (NASDAQ:WIX) in a report published on Thursday,Benzinga reports. The brokerage currently has a $245.00 price target on the information services provider’s stock.

Other equities research analysts have also issued reports about the company. Morgan Stanley upgraded Wix.com from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. Robert W. Baird boosted their price objective on Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Monday, November 25th. UBS Group upped their price target on Wix.com from $250.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday. Wells Fargo & Company began coverage on Wix.com in a research report on Monday, February 3rd. They issued an “underweight” rating and a $208.00 price target for the company. Finally, Citigroup upped their price target on Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $245.83.

Wix.com Trading Down 2.7 %

NASDAQ WIX opened at $198.11 on Thursday. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 84.30, a PEG ratio of 2.83 and a beta of 1.58. Wix.com has a twelve month low of $117.58 and a twelve month high of $247.11. The stock has a 50-day moving average of $226.20 and a 200 day moving average of $193.56.

Hedge Funds Weigh In On Wix.com

Several hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its position in Wix.com by 98.0% in the 3rd 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. Newbridge Financial Services Group Inc. purchased a new stake in Wix.com in the 4th quarter valued at approximately $43,000. Avior Wealth Management LLC boosted its holdings in Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in Wix.com by 36.0% in the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in Wix.com in the 4th quarter valued at approximately $52,000. Hedge funds and other 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.