Wix.com (NASDAQ:WIX) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Wix.com (NASDAQ:WIX) from a buy rating to a strong-buy rating in a research report released on Saturday.

Other research analysts have also issued research reports about the stock. Baird R W raised shares of Wix.com from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 23rd. Piper Sandler cut their price target on shares of Wix.com from $262.00 to $225.00 and set an “overweight” rating on the stock in a research note on Thursday, May 22nd. Robert W. Baird raised shares of Wix.com from a “neutral” rating to an “outperform” rating and cut their price target for the company from $215.00 to $190.00 in a research note on Friday, May 23rd. Wells Fargo & Company upgraded shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $173.00 to $216.00 in a report on Monday, June 16th. Finally, B. Riley reiterated a “buy” rating and issued a $230.00 price objective (down from $240.00) on shares of Wix.com in a report on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Wix.com presently has a consensus rating of “Buy” and a consensus target price of $228.95.

Wix.com Price Performance

Wix.com stock opened at $164.17 on Friday. The company’s 50 day simple moving average is $162.11 and its 200 day simple moving average is $185.95. Wix.com has a fifty-two week low of $137.94 and a fifty-two week high of $247.11. The firm has a market capitalization of $9.21 billion, a price-to-earnings ratio of 65.41, a PEG ratio of 2.62 and a beta of 1.31.

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp boosted its position in shares of Wix.com by 9.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,622 shares of the information services provider’s stock valued at $26,738,000 after acquiring an additional 11,048 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Wix.com by 559.6% in the fourth quarter. Jones Financial Companies Lllp now owns 343 shares of the information services provider’s stock valued at $74,000 after acquiring an additional 291 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of Wix.com in the fourth quarter valued at about $52,000. Charles Schwab Investment Management Inc. boosted its position in shares of Wix.com by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,973 shares of the information services provider’s stock valued at $7,933,000 after acquiring an additional 612 shares during the period. Finally, Keybank National Association OH bought a new stake in shares of Wix.com in the fourth quarter valued at about $204,000. 81.52% of the stock is 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.