Wix.com (NASDAQ:WIX) Rating Lowered to Hold at StockNews.com

Wix.com (NASDAQ:WIX) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other equities research analysts have also recently issued reports on the stock. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Benchmark increased their price objective on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, August 8th. Barclays lowered their price target on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. KeyCorp began coverage on Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating on the stock. Finally, JMP Securities reiterated a “market outperform” rating and set a $180.00 price objective on shares of Wix.com in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $190.06.

Wix.com Price Performance

Wix.com stock traded down $4.00 during mid-day trading on Friday, hitting $180.01. 338,989 shares of the company were exchanged, compared to its average volume of 541,652. The company has a market capitalization of $9.87 billion, a P/E ratio of 142.87, a PEG ratio of 3.92 and a beta of 1.47. The business’s 50 day simple moving average is $165.51 and its two-hundred day simple moving average is $159.54. Wix.com has a 12-month low of $92.25 and a 12-month high of $192.00.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Blue Trust Inc. increased its position in Wix.com by 98.0% during the third quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Wix.com by 112.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. CWM LLC lifted its holdings in Wix.com by 19.0% during the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after purchasing an additional 101 shares during the last quarter. Industrial Alliance Investment Management Inc. increased its holdings 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 buying an additional 488 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Wix.com by 19.0% in the second quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after acquiring an additional 124 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.