StockNews.com Upgrades Wix.com (NASDAQ:WIX) to Strong-Buy

Wix.com (NASDAQ:WIX - Get Free Report) was upgraded by StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Thursday.

A number of other research firms have also issued reports on WIX. Benchmark increased their price target on shares of Wix.com from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, February 20th. JMP Securities reiterated a "market outperform" rating and issued a $240.00 target price on shares of Wix.com in a research report on Tuesday, February 18th. Barclays boosted their price target on shares of Wix.com from $236.00 to $240.00 and gave the company an "overweight" rating in a report on Thursday, February 20th. Raymond James raised Wix.com from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the company from $225.00 to $300.00 in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. dropped their target price on Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $243.74.

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Wix.com Trading Down 3.8 %

NASDAQ:WIX traded down $5.93 during trading hours on Thursday, hitting $150.01. 1,297,473 shares of the stock traded hands, compared to its average volume of 629,982. The firm has a 50 day moving average price of $197.26 and a 200 day moving average price of $196.70. The firm has a market cap of $8.42 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 2.83 and a beta of 1.65. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $247.11.

Wix.com announced that its board has initiated a share buyback plan on Thursday, February 27th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Wix.com

A number of institutional investors have recently made changes to their positions in the business. Avior Wealth Management LLC grew 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 buying an additional 89 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Wix.com in the fourth quarter worth $43,000. Global Retirement Partners LLC grew its stake in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after acquiring an additional 58 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Wix.com during the fourth quarter worth $52,000. Finally, Blue Trust Inc. raised its stake in Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after purchasing an additional 56 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors.

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.