Wix.com (NASDAQ:WIX) Upgraded at StockNews.com

StockNews.com upgraded shares of Wix.com (NASDAQ:WIX) from a buy rating to a strong-buy rating in a report issued on Tuesday morning.

Several other research firms also recently weighed in on WIX. UBS Group set a $250.00 price target on shares of Wix.com in a research note on Wednesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $245.00 target price on shares of Wix.com in a research report on Thursday, February 20th. Raymond James upgraded Wix.com from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $225.00 to $300.00 in a report on Tuesday, January 21st. Morgan Stanley raised Wix.com from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Finally, Cantor Fitzgerald upped their target price on Wix.com from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wix.com has an average rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Stock Up 3.1 %

NASDAQ:WIX opened at $173.88 on Tuesday. Wix.com has a twelve month low of $117.58 and a twelve month high of $247.11. The company has a fifty day moving average of $206.48 and a 200-day moving average of $196.46. The firm has a market capitalization of $9.53 billion, a P/E ratio of 73.99, a P/E/G ratio of 2.83 and a beta of 1.64.

Wix.com declared that its board has authorized a share repurchase plan on Thursday, February 27th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the information services provider to purchase up to 1.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Wix.com

Hedge funds have recently modified their holdings of the company. Cullen Frost Bankers Inc. increased its position in shares of Wix.com by 9.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 608 shares of the information services provider’s stock valued at $130,000 after acquiring an additional 55 shares during the last quarter. Blue Trust Inc. grew its stake in Wix.com by 28.3% in the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 56 shares during the period. Global Retirement Partners LLC increased its position in shares of Wix.com by 36.0% during the 4th 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 last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Wix.com by 2.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,338 shares of the information services provider’s stock worth $502,000 after purchasing an additional 63 shares during the period. Finally, Vestcor Inc boosted its holdings in shares of Wix.com by 8.0% in the 4th quarter. Vestcor Inc now owns 853 shares of the information services provider’s stock worth $183,000 after buying an additional 63 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

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.