Wix.com (NASDAQ:WIX) Upgraded by Morgan Stanley to Overweight Rating

Wix.com (NASDAQ:WIX) was upgraded by Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat reports. The firm presently has a $276.00 price objective on the information services provider’s stock, up from their previous price objective of $248.00. Morgan Stanley’s price target indicates a potential upside of 16.77% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a report on Wednesday, November 20th. Cantor Fitzgerald raised their price objective on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Piper Sandler raised their price target on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Bank of America lifted their target price on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $225.82.

Wix.com Stock Performance

NASDAQ:WIX opened at $236.36 on Monday. The stock has a 50-day simple moving average of $212.31 and a two-hundred day simple moving average of $179.73. The firm has a market capitalization of $12.96 billion, a PE ratio of 147.73, a P/E/G ratio of 4.22 and a beta of 1.56. Wix.com has a 52-week low of $117.58 and a 52-week high of $239.10.

Institutional Investors Weigh In On Wix.com

Several large investors have recently added to or reduced their stakes in WIX. Blue Trust Inc. lifted its stake in shares of Wix.com by 98.0% in the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Advisors Asset Management Inc. lifted 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 worth $41,000 after acquiring an additional 130 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Wix.com by 962.7% during the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock worth $116,000 after purchasing an additional 491 shares during the period. CWM LLC grew its holdings in Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank raised its position in 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 purchasing an additional 124 shares during the period. 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.