Wix.com (NASDAQ:WIX) Receives Buy Rating from Needham & Company LLC

Wix.com (NASDAQ:WIX)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $200.00 target price on the information services provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 8.73% from the company’s current price.

A number of other brokerages have also issued reports on WIX. Benchmark boosted their price target on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. JMP Securities reissued a “market outperform” rating and set a $180.00 target price on shares of Wix.com in a research note on Thursday, July 25th. StockNews.com lowered shares of Wix.com from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a report on Monday, October 7th. Finally, Barclays dropped their target price on Wix.com from $186.00 to $184.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $194.13.

Wix.com Trading Up 2.0 %

NASDAQ WIX opened at $183.95 on Wednesday. The company has a 50-day moving average price of $166.46 and a two-hundred day moving average price of $160.95. Wix.com has a 52 week low of $95.39 and a 52 week high of $192.00. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 145.99, a price-to-earnings-growth ratio of 3.84 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently made changes to their positions in WIX. Quadrature Capital Ltd raised its stake in Wix.com by 65.1% during the 1st quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock valued at $3,095,000 after purchasing an additional 8,879 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Wix.com by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,401 shares of the information services provider’s stock worth $1,431,000 after acquiring an additional 1,696 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in Wix.com during the 1st quarter worth about $779,000. Industrial Alliance Investment Management Inc. grew its stake in Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock valued at $94,000 after acquiring an additional 488 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC increased its holdings in shares of Wix.com by 163.7% in the 1st quarter. Grandeur Peak Global Advisors LLC now owns 3,829 shares of the information services provider’s stock valued at $526,000 after purchasing an additional 2,377 shares during the period. Hedge funds and other institutional investors 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.