Wix.com (NASDAQ:WIX) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of Wix.com (NASDAQ:WIX) from a buy rating to a hold rating in a research report report published on Friday morning.

WIX has been the topic of a number of other research reports. JMP Securities reiterated a “market outperform” rating and issued a $180.00 price target on shares of Wix.com in a report on Thursday, July 25th. Benchmark lifted their price objective on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and set a $190.00 target price on shares of Wix.com in a research report on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of Wix.com in a research note on Monday, October 7th. Finally, Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Price Performance

WIX opened at $180.33 on Friday. Wix.com has a 12 month low of $95.39 and a 12 month high of $192.00. The business has a 50-day moving average of $165.98 and a two-hundred day moving average of $160.53. The stock has a market capitalization of $9.89 billion, a price-to-earnings ratio of 143.12, a price-to-earnings-growth ratio of 3.83 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. lifted its stake in Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after purchasing an additional 98 shares during the last quarter. CWM LLC lifted its position in shares of Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after buying an additional 101 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock worth $124,000 after buying an additional 124 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after buying an additional 130 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Wix.com by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 4,803 shares of the information services provider’s stock valued at $764,000 after buying an additional 136 shares during the last quarter. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.