Wix.com (NASDAQ:WIX) Given Buy Rating at Needham & Company LLC

Wix.com (NASDAQ:WIX)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Wednesday,Benzinga reports. They currently have a $235.00 price target on the information services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 3.17% from the company’s previous close.

WIX has been the subject of several other research reports. Royal Bank of Canada upped their price target on shares of Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Robert W. Baird lifted their price target on Wix.com from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Monday, November 25th. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research note on Thursday, November 21st. Finally, Cantor Fitzgerald lifted their target price on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Wix.com currently has an average rating of “Moderate Buy” and an average target price of $237.89.

Wix.com Stock Up 1.8 %

Shares of NASDAQ:WIX opened at $227.78 on Wednesday. The business’s 50 day moving average is $226.72 and its 200 day moving average is $192.17. The stock has a market cap of $12.49 billion, a P/E ratio of 142.36, a price-to-earnings-growth ratio of 2.49 and a beta of 1.58. Wix.com has a 52-week low of $117.58 and a 52-week high of $247.11.

Wix.com (NASDAQ:WIX) last announced its quarterly earnings results on Wednesday, February 19th. The information services provider reported $0.92 EPS for the quarter, missing the consensus estimate of $1.61 by ($0.69). Wix.com had a net margin of 5.47% and a negative return on equity of 52.68%. On average, sell-side analysts anticipate that Wix.com will post 2.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Wix.com

Large investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in 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 valued at $44,055,000 after purchasing an additional 49,500 shares during the last quarter. BNP Paribas Financial Markets raised its position in Wix.com by 60.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock worth $5,081,000 after buying an additional 11,497 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Wix.com in the 4th quarter valued at $256,000. Cumberland Partners Ltd increased its stake in shares of Wix.com by 18.8% in the third quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock worth $3,176,000 after acquiring an additional 3,000 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in Wix.com during the third quarter valued at $461,000. 81.52% of the stock is owned by hedge funds and other 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.