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

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

Other analysts have also recently issued research reports about the company. Piper Sandler raised Wix.com from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $184.00 to $200.00 in a research report on Monday, September 23rd. UBS Group lifted their price target on Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Barclays reduced their price objective on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Finally, KeyCorp assumed coverage on shares of Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating for the company. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.06.

Wix.com Trading Down 2.2 %

NASDAQ WIX traded down $4.00 on Friday, reaching $180.01. The stock had a trading volume of 338,996 shares, compared to its average volume of 388,546. The business has a 50 day moving average price of $165.51 and a 200 day moving average price of $159.54. Wix.com has a 1 year low of $92.25 and a 1 year high of $192.00. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 142.87, a P/E/G ratio of 3.91 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

A number of hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its holdings in Wix.com by 98.0% during the 3rd 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. Advisors Asset Management Inc. raised its position 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 acquiring an additional 130 shares during the period. Industrial Alliance Investment Management Inc. boosted its position in shares of Wix.com by 246.5% during the first quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares in the last quarter. CWM LLC grew its stake in Wix.com by 19.0% in the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 101 shares during the period. Finally, Toronto Dominion Bank raised its position in shares of Wix.com by 19.0% during the second 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. 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.