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.

WIX has been the subject of several other research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $190.00 target price on shares of Wix.com in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Wix.com in a research report on Monday, October 7th. Benchmark upped their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, August 8th. UBS Group raised their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Stock Performance

Shares of NASDAQ:WIX opened at $180.01 on Friday. The firm has a 50 day simple moving average of $165.98 and a 200 day simple moving average of $160.24. Wix.com has a 52 week low of $92.25 and a 52 week high of $192.00. The company has a market cap of $9.87 billion, a PE ratio of 142.87, a price-to-earnings-growth ratio of 3.83 and a beta of 1.47.

Hedge Funds Weigh In On Wix.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dorsal Capital Management LP increased its stake in shares of Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares during the period. Captrust Financial Advisors boosted its position in shares of Wix.com by 545.7% in the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after acquiring an additional 201,532 shares during the period. Renaissance Technologies LLC grew its stake in shares of Wix.com by 27.9% in the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares during the last quarter. Whale Rock Capital Management LLC increased its position in Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after acquiring an additional 165,810 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in Wix.com during the 2nd quarter valued at $13,646,000. 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.