Wix.com (NASDAQ:WIX) Downgraded to "Hold" Rating by Cfra Research

Wix.com (NASDAQ:WIX - Get Free Report) was downgraded by equities researchers at Cfra Research from a "moderate buy" rating to a "hold" rating in a report issued on Tuesday, April 15th,Zacks.com reports.

Several other analysts also recently weighed in on WIX. Wells Fargo & Company raised shares of Wix.com from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $169.00 to $176.00 in a research report on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and set a $240.00 price objective on shares of Wix.com in a report on Tuesday, February 18th. Cantor Fitzgerald raised their target price on Wix.com from $260.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, February 20th. Barclays boosted their price target on Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a research note on Thursday, February 20th. Finally, Benchmark raised their price objective on Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, February 20th. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.89.

Wix.com Price Performance

NASDAQ WIX traded up $4.21 during trading on Tuesday, hitting $158.82. The company's stock had a trading volume of 370,063 shares, compared to its average volume of 652,167. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $247.11. The company has a market cap of $8.91 billion, a PE ratio of 67.58, a P/E/G ratio of 2.83 and a beta of 1.65. The business's 50 day simple moving average is $176.32 and its 200-day simple moving average is $196.09.

Wix.com declared that its board has authorized a share buyback program on Thursday, February 27th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.

Institutional Trading of Wix.com

Several institutional investors have recently modified their holdings of WIX. Asset Management One Co. Ltd. lifted its stake in Wix.com by 1.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 19,065 shares of the information services provider's stock valued at $3,115,000 after buying an additional 310 shares in the last quarter. Retirement Systems of Alabama purchased a new stake in shares of Wix.com during the first quarter worth $3,088,000. CWA Asset Management Group LLC boosted its position in Wix.com by 243.6% during the first quarter. CWA Asset Management Group LLC now owns 16,688 shares of the information services provider's stock worth $2,726,000 after acquiring an additional 11,831 shares during the last quarter. Janney Montgomery Scott LLC purchased a new stake in Wix.com during the 1st quarter valued at about $5,367,000. Finally, Optas LLC acquired a new stake in Wix.com in the 1st quarter valued at about $268,000. 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.