Wells Fargo & Company Initiates Coverage on Wix.com (NASDAQ:WIX)

Analysts at Wells Fargo & Company started coverage on shares of Wix.com (NASDAQ:WIX) in a note issued to investors on Monday,Benzinga reports. The brokerage set an “underweight” rating and a $208.00 price target on the information services provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 12.93% from the stock’s previous close.

WIX has been the topic of several other research reports. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $248.00 to $276.00 in a report on Monday, January 13th. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Piper Sandler boosted their price objective on shares of Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price objective on shares of Wix.com in a research report on Wednesday, November 20th. Finally, Jefferies Financial Group boosted their price objective on shares of Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Wix.com currently has an average rating of “Moderate Buy” and an average price target of $232.61.

Wix.com Stock Down 1.4 %

Wix.com stock opened at $238.89 on Monday. Wix.com has a 52-week low of $117.58 and a 52-week high of $247.11. The company’s 50 day moving average is $225.74 and its two-hundred day moving average is $187.01. The firm has a market cap of $13.10 billion, a PE ratio of 149.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.58.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Wix.com by 98.0% in the third 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 period. Newbridge Financial Services Group Inc. purchased a new position in shares of Wix.com in the fourth quarter valued at $43,000. Avior Wealth Management LLC boosted its stake in shares of Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 89 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Wix.com by 36.0% in the fourth quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider’s stock valued at $47,000 after purchasing an additional 58 shares during the period. Finally, Advisors Asset Management Inc. raised its holdings in Wix.com by 112.1% in the third 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 in the last quarter. 81.52% of the stock is currently owned by hedge funds and other 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.