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

Wix.com (NASDAQ:WIX) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Friday.

A number of other equities analysts have also issued reports on the company. Barclays increased their price objective on Wix.com from $236.00 to $240.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Benchmark raised their price target on Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday, February 20th. Robert W. Baird upped their price objective on shares of Wix.com from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Wells Fargo & Company lowered their target price on shares of Wix.com from $194.00 to $169.00 and set an “underweight” rating on the stock in a research note on Friday, March 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 price target on shares of Wix.com in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Wix.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $243.74.

Wix.com Trading Down 0.1 %

NASDAQ WIX opened at $172.59 on Friday. The company has a 50-day moving average price of $216.76 and a two-hundred day moving average price of $196.05. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11. The stock has a market cap of $9.46 billion, a price-to-earnings ratio of 73.44, a price-to-earnings-growth ratio of 2.83 and a beta of 1.64.

Wix.com declared that its Board of Directors has authorized a share buyback program on Thursday, February 27th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the information services provider to buy up to 1.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in WIX. Wellington Management Group LLP boosted its position in shares of Wix.com by 518.3% in the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after buying an additional 1,266,202 shares during the period. Durable Capital Partners LP acquired a new stake in Wix.com during the 4th quarter worth about $89,839,000. SG Americas Securities LLC grew its stake in Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after acquiring an additional 400,265 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Wix.com by 55.1% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock valued at $229,904,000 after purchasing an additional 380,800 shares during the period. Finally, Senvest Management LLC lifted its position in shares of Wix.com by 27.3% in the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after purchasing an additional 304,712 shares in the last quarter. 81.52% of the stock is 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.