Wix.com (NASDAQ:WIX) Rating Increased to Overweight at Morgan Stanley

Morgan Stanley upgraded shares of Wix.com (NASDAQ:WIX) from an equal weight rating to an overweight rating in a research report released on Monday, MarketBeat reports. The firm currently has $276.00 target price on the information services provider’s stock, up from their prior target price of $248.00.

A number of other brokerages have also recently issued reports on WIX. Royal Bank of Canada upped their target price on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Cantor Fitzgerald upped their price objective on shares of Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. B. Riley lifted their target price on shares of Wix.com from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Wix.com in a report on Wednesday, November 20th. Finally, Bank of America lifted their price objective on Wix.com from $190.00 to $228.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $225.82.

Wix.com Price Performance

NASDAQ WIX opened at $241.84 on Monday. The firm has a market cap of $13.26 billion, a P/E ratio of 151.15, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56. The stock’s 50-day moving average is $213.81 and its two-hundred day moving average is $180.16. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $244.10.

Hedge Funds Weigh In On Wix.com

A number of hedge funds and other institutional investors have recently made changes to their positions in WIX. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Wix.com by 23.1% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after buying an additional 49,500 shares during the period. Toth Financial Advisory Corp acquired a new position in Wix.com during the third quarter worth $661,000. Dimensional Fund Advisors LP lifted its holdings in shares of Wix.com by 448.6% during the second quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock valued at $1,375,000 after acquiring an additional 7,070 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Wix.com by 60.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after purchasing an additional 11,497 shares in the last quarter. Finally, Lakehouse Capital Pty Ltd grew its holdings in shares of Wix.com by 26.2% in the 3rd quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock worth $10,148,000 after purchasing an additional 12,600 shares during the last quarter. 81.52% of the stock is 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.