Wix.com (NASDAQ:WIX) Given "Buy" Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Wix.com (NASDAQ:WIX - Free Report) in a research note issued to investors on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $235.00 target price on the information services provider's stock.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada raised their price objective on shares of Wix.com from $190.00 to $245.00 and gave the stock an "outperform" rating in a research report on Thursday, November 21st. Benchmark raised their target price on shares of Wix.com from $225.00 to $250.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Barclays raised their target price on shares of Wix.com from $184.00 to $236.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. B. Riley raised their target price on shares of Wix.com from $190.00 to $220.00 and gave the stock a "buy" rating in a research note on Thursday, November 21st. Finally, Morgan Stanley upgraded shares of Wix.com from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $248.00 to $276.00 in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $245.83.

Wix.com Stock Performance

Wix.com stock traded down $5.54 during midday trading on Wednesday, hitting $198.11. 876,551 shares of the company's stock were exchanged, compared to its average volume of 843,480. Wix.com has a 12-month low of $117.58 and a 12-month high of $247.11. The stock has a market cap of $10.86 billion, a price-to-earnings ratio of 84.30, a price-to-earnings-growth ratio of 2.42 and a beta of 1.58. The firm's 50 day simple moving average is $226.63 and its 200 day simple moving average is $192.98.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Mackenzie Financial Corp grew its holdings in shares of Wix.com by 211.0% during the fourth quarter. Mackenzie Financial Corp now owns 29,395 shares of the information services provider's stock worth $6,307,000 after buying an additional 19,943 shares in the last quarter. JT Stratford LLC purchased a new stake in shares of Wix.com during the fourth quarter worth about $218,000. USS Investment Management Ltd grew its holdings in shares of Wix.com by 12.5% during the fourth quarter. USS Investment Management Ltd now owns 10,404 shares of the information services provider's stock worth $2,232,000 after buying an additional 1,157 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Wix.com by 15.7% during the fourth quarter. Voloridge Investment Management LLC now owns 380,909 shares of the information services provider's stock worth $81,724,000 after buying an additional 51,581 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its holdings in shares of Wix.com by 68.0% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 106,187 shares of the information services provider's stock worth $22,782,000 after buying an additional 42,969 shares in the last quarter. Institutional investors and hedge funds 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.