Wix.com Ltd. (NASDAQ:WIX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Wix.com Ltd. is a cloud-based web development platform. The Company’s platform offers solutions that enable businesses, organizations, professionals and individuals to develop customized websites and application platforms. Wix.com Ltd. is headquartered in Tel Aviv, Israel. “

Other research analysts have also issued research reports about the stock. BidaskClub raised shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $73.00 price objective on shares of Wix.com in a research report on Monday, November 6th. KeyCorp reaffirmed an “overweight” rating on shares of Wix.com in a research report on Wednesday, November 8th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $80.00 price objective on shares of Wix.com in a research report on Wednesday, November 8th. Finally, Jefferies Group LLC assumed coverage on shares of Wix.com in a research report on Thursday, August 24th. They set a “buy” rating and a $74.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. Wix.com has a consensus rating of “Hold” and a consensus price target of $77.93.

Wix.com (NASDAQ:WIX) traded down $1.20 during mid-day trading on Wednesday, reaching $53.80. 804,000 shares of the company’s stock were exchanged, compared to its average volume of 780,921. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86. Wix.com has a one year low of $42.80 and a one year high of $86.15.

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Several institutional investors and hedge funds have recently added to or reduced their stakes in WIX. Steadfast Capital Management LP boosted its stake in Wix.com by 1.2% in the first quarter. Steadfast Capital Management LP now owns 3,709,502 shares of the information services provider’s stock valued at $251,875,000 after acquiring an additional 43,366 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Wix.com by 29.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,687,547 shares of the information services provider’s stock valued at $83,892,000 after acquiring an additional 849,587 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Wix.com by 23.7% in the second quarter. Renaissance Technologies LLC now owns 2,414,400 shares of the information services provider’s stock valued at $168,042,000 after acquiring an additional 462,700 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Wix.com by 2.7% in the first quarter. Baillie Gifford & Co. now owns 1,421,160 shares of the information services provider’s stock valued at $96,497,000 after acquiring an additional 37,518 shares during the last quarter. Finally, Menora Mivtachim Holdings LTD. boosted its stake in Wix.com by 146.1% in the third quarter. Menora Mivtachim Holdings LTD. now owns 1,050,796 shares of the information services provider’s stock valued at $75,500,000 after acquiring an additional 623,876 shares during the last quarter. 72.61% of the stock is currently owned by institutional investors and hedge funds.

About Wix.com

Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.

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Analyst Recommendations for Wix.com (NASDAQ:WIX)

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