Wix.com (NASDAQ:WIX - Get Free Report) was upgraded by research analysts at Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research report issued on Monday, MarketBeat reports. The brokerage currently has a $276.00 price objective on the information services provider's stock, up from their previous price objective of $248.00. Morgan Stanley's target price indicates a potential upside of 22.90% from the stock's current price.
WIX has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $200.00 target price on shares of Wix.com in a research report on Wednesday, November 20th. B. Riley upped their price target on shares of Wix.com from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, November 21st. Bank of America upped their target price on shares of Wix.com from $190.00 to $228.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on Wix.com from $195.00 to $205.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 20th. Finally, Barclays upped their price objective on shares of Wix.com from $184.00 to $236.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $225.82.
Get Our Latest Analysis on WIX
Wix.com Stock Performance
Wix.com stock traded up $5.96 during midday trading on Monday, reaching $224.58. The stock had a trading volume of 1,229,293 shares, compared to its average volume of 649,765. The stock has a market capitalization of $12.31 billion, a P/E ratio of 140.36, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56. The firm's fifty day simple moving average is $210.90 and its 200-day simple moving average is $179.19. Wix.com has a 1-year low of $117.58 and a 1-year high of $229.79.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in WIX. Dorsal Capital Management LP lifted its position in shares of Wix.com by 23.8% in the 2nd 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 lifted its stake in shares of Wix.com by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider's stock valued at $190,482,000 after purchasing an additional 33,338 shares during the period. Senvest Management LLC boosted its position in shares of Wix.com by 4.7% during the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider's stock valued at $186,910,000 after purchasing an additional 50,482 shares in the last quarter. Renaissance Technologies LLC grew its stake in Wix.com by 27.9% during the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider's stock worth $124,973,000 after purchasing an additional 171,500 shares during the period. Finally, Whale Rock Capital Management LLC lifted its stake 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 valued at $115,475,000 after buying an additional 165,810 shares during the period. Institutional investors and hedge funds own 81.52% of the company's stock.
Wix.com Company Profile
(
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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.
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