StockNews.com Initiates Coverage on Wix.com (NASDAQ:WIX)

StockNews.com began coverage on shares of Wix.com (NASDAQ:WIX – Get Rating) in a research report released on Thursday morning. The firm issued a hold rating on the information services provider’s stock.

WIX has been the subject of several other reports. Piper Sandler upgraded Wix.com from an underweight rating to a neutral rating and lifted their price objective for the stock from $80.00 to $99.00 in a research report on Wednesday, February 22nd. Citigroup lifted their price objective on Wix.com from $101.00 to $120.00 and gave the stock a buy rating in a research report on Thursday, February 23rd. Morgan Stanley lifted their target price on shares of Wix.com from $94.00 to $102.00 and gave the stock an equal weight rating in a research note on Thursday, February 23rd. Credit Suisse Group reaffirmed an outperform rating and issued a $105.00 target price on shares of Wix.com in a research note on Thursday, February 23rd. Finally, Needham & Company LLC lifted their target price on shares of Wix.com from $100.00 to $125.00 in a research note on Thursday, February 23rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $105.50.

Wix.com Price Performance

Shares of Wix.com stock opened at $89.26 on Thursday. Wix.com has a 1 year low of $53.12 and a 1 year high of $111.35. The company has a market capitalization of $5.11 billion, a P/E ratio of -12.14 and a beta of 1.22. The business has a 50 day moving average price of $87.35 and a 200 day moving average price of $81.52.

Institutional Trading of Wix.com

A number of institutional investors have recently added to or reduced their stakes in WIX. Pacer Advisors Inc. purchased a new stake in Wix.com during the 4th quarter worth $33,000. Achmea Investment Management B.V. purchased a new stake in Wix.com during the 4th quarter worth $35,000. Edmond DE Rothschild Holding S.A. purchased a new stake in Wix.com during the 3rd quarter worth $36,000. Lindbrook Capital LLC boosted its position in Wix.com by 86.3% during the 4th quarter. Lindbrook Capital LLC now owns 475 shares of the information services provider’s stock worth $36,000 after purchasing an additional 220 shares during the period. Finally, Ronald Blue Trust Inc. purchased a new stake in Wix.com during the 2nd quarter worth $38,000. 91.90% of the stock is owned by hedge funds and other institutional investors.

Wix.com Company Profile

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Wix.com Ltd. operates a cloud-based website design and development platform. It offers web templates, web editor, web builder, search engine optimization tools, logo maker, web hosting, and electronic mail marketing services. The company was founded by Avishai Abrahami, Nadav Abrahami, and Giora Kaplan on October 5, 2006 and is headquartered in Tel Aviv, Israel.