Wix.com (NASDAQ:WIX) Upgraded by StockNews.com to Buy Rating

Wix.com (NASDAQ:WIX - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Saturday.

WIX has been the topic of several other reports. Cantor Fitzgerald raised their price target on shares of Wix.com from $200.00 to $240.00 and gave the stock an "overweight" rating in a research note on Thursday. UBS Group raised their price objective on Wix.com from $200.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, August 8th. Needham & Company LLC restated a "buy" rating and set a $200.00 price objective on shares of Wix.com in a research note on Wednesday. JPMorgan Chase & Co. increased their target price on Wix.com from $195.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their price target on shares of Wix.com from $190.00 to $245.00 and gave the stock an "outperform" rating in a research note on Thursday. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $210.44.

Wix.com Stock Down 0.9 %

Wix.com stock traded down $1.99 during mid-day trading on Friday, hitting $217.20. The company had a trading volume of 1,270,172 shares, compared to its average volume of 588,795. The business has a fifty day moving average of $170.73 and a 200 day moving average of $162.82. Wix.com has a 1 year low of $95.65 and a 1 year high of $220.22. The stock has a market cap of $11.91 billion, a price-to-earnings ratio of 135.75, a PEG ratio of 4.25 and a beta of 1.47.

Hedge Funds Weigh In On Wix.com

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. raised its holdings in shares of Wix.com by 98.0% in the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider's stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider's stock worth $41,000 after acquiring an additional 130 shares during the period. Industrial Alliance Investment Management Inc. grew its holdings in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider's stock valued at $94,000 after buying an additional 488 shares in the last quarter. CWM LLC grew its position in shares of Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider's stock valued at $106,000 after purchasing an additional 101 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider's stock worth $124,000 after acquiring an additional 124 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.