Wix.com (NASDAQ:WIX) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Wix.com (NASDAQ:WIX) in a research note released on Monday morning, Marketbeat.com reports. The brokerage issued an underweight rating and a $208.00 price objective on the information services provider’s stock.

Several other research analysts have also commented on the company. Cantor Fitzgerald boosted their price target on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Barclays lifted their price objective on shares of Wix.com from $184.00 to $236.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Needham & Company LLC reissued a “buy” rating and set a $200.00 target price on shares of Wix.com in a research report on Wednesday, November 20th. Finally, Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $248.00 to $276.00 in a report 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 given a strong buy rating to the company. According to data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.61.

Wix.com Price Performance

NASDAQ:WIX opened at $224.85 on Monday. Wix.com has a 1-year low of $117.58 and a 1-year high of $247.11. The firm has a market cap of $12.33 billion, a PE ratio of 140.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.58. The company has a 50-day moving average of $226.10 and a 200 day moving average of $188.19.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its stake in shares of Wix.com by 448.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock worth $1,375,000 after purchasing an additional 7,070 shares during the period. Marshall Wace LLP purchased a new stake in shares of Wix.com during the 2nd quarter worth about $325,000. Creative Planning grew its position in shares of Wix.com by 56.6% during the 2nd quarter. Creative Planning now owns 8,041 shares of the information services provider’s stock valued at $1,279,000 after acquiring an additional 2,907 shares during the period. CWM LLC boosted its position in Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares in the last quarter. Finally, Lakehouse Capital Pty Ltd grew its holdings in Wix.com by 26.2% in the third quarter. Lakehouse Capital Pty Ltd now owns 60,708 shares of the information services provider’s stock valued at $10,148,000 after purchasing an additional 12,600 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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.