Wix.Com (WIX) Upgraded by Raymond James Financial to Strong-Buy

Wix.Com (NASDAQ:WIX) was upgraded by equities research analysts at Raymond James Financial from a “market perform” rating to a “strong-buy” rating in a research report issued to clients and investors on Thursday.

Several other analysts have also commented on the stock. Wedbush lowered shares of Wix.Com from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $86.00 to $65.00 in a research report on Thursday, November 9th. SunTrust Banks reiterated a “buy” rating and issued a $73.00 price target on shares of Wix.Com in a research report on Monday, November 6th. KeyCorp reiterated an “overweight” rating on shares of Wix.Com in a research report on Wednesday, November 8th. Royal Bank of Canada reiterated a “hold” rating and issued a $80.00 price target on shares of Wix.Com in a research report on Wednesday, November 8th. Finally, BidaskClub lowered shares of Wix.Com from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Wix.Com currently has an average rating of “Buy” and an average target price of $77.79.

Shares of Wix.Com (WIX) opened at $58.30 on Thursday. The company has a market cap of $2,650.00, a P/E ratio of -45.91 and a beta of 2.25. Wix.Com has a 1 year low of $44.65 and a 1 year high of $86.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Edmond DE Rothschild Holding S.A. acquired a new stake in Wix.Com during the second quarter worth approximately $626,000. Bank Hapoalim BM acquired a new stake in Wix.Com during the third quarter worth approximately $1,064,000. Capital Fund Management S.A. boosted its position in Wix.Com by 1,443.8% during the second quarter. Capital Fund Management S.A. now owns 80,276 shares of the information services provider’s stock worth $5,587,000 after acquiring an additional 75,076 shares during the last quarter. Macquarie Group Ltd. boosted its position in Wix.Com by 292.7% during the third quarter. Macquarie Group Ltd. now owns 194,697 shares of the information services provider’s stock worth $13,989,000 after acquiring an additional 145,117 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in Wix.Com by 27.0% during the third quarter. Frontier Capital Management Co. LLC now owns 223,674 shares of the information services provider’s stock worth $16,071,000 after acquiring an additional 47,602 shares during the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by American Banking and Market News and is the property of of American Banking and Market News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/01/04/wix-com-wix-upgraded-by-raymond-james-financial-to-strong-buy.html.

Wix.Com Company Profile

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.