Wix.Com (WIX) Rating Increased to Strong-Buy at BidaskClub

Wix.Com (NASDAQ:WIX) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Friday, October 19th.

A number of other brokerages have also issued reports on WIX. Oppenheimer boosted their target price on Wix.Com from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Zacks Investment Research lowered Wix.Com from a “hold” rating to a “sell” rating in a research report on Sunday, July 15th. Rosenblatt Securities began coverage on Wix.Com in a research report on Monday, July 30th. They issued a “neutral” rating and a $78.00 target price on the stock. KeyCorp upped their price objective on Wix.Com from $103.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday, July 26th. Finally, Wedbush reaffirmed an “outperform” rating and set a $123.00 price objective on shares of Wix.Com in a research report on Thursday, September 13th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. Wix.Com has an average rating of “Buy” and a consensus price target of $105.38.

WIX traded down $5.51 during trading hours on Friday, reaching $95.93. The company’s stock had a trading volume of 848,412 shares, compared to its average volume of 637,523. Wix.Com has a fifty-two week low of $50.90 and a fifty-two week high of $121.45. The stock has a market capitalization of $4.78 billion, a PE ratio of -95.93 and a beta of 1.82. The company has a debt-to-equity ratio of 2.76, a quick ratio of 2.00 and a current ratio of 2.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Summit Trail Advisors LLC boosted its stake in Wix.Com by 83,610.2% in the first quarter. Summit Trail Advisors LLC now owns 647,080 shares of the information services provider’s stock valued at $647,000 after acquiring an additional 646,307 shares in the last quarter. BlackRock Inc. boosted its stake in Wix.Com by 41.5% in the first quarter. BlackRock Inc. now owns 1,133,280 shares of the information services provider’s stock valued at $90,151,000 after acquiring an additional 332,574 shares in the last quarter. Millennium Management LLC boosted its stake in Wix.Com by 2,633.1% in the first quarter. Millennium Management LLC now owns 339,228 shares of the information services provider’s stock valued at $26,986,000 after acquiring an additional 326,816 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Wix.Com by 32.0% during the second quarter. Victory Capital Management Inc. now owns 1,193,410 shares of the information services provider’s stock worth $119,698,000 after buying an additional 289,190 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in shares of Wix.Com by 398.7% during the second quarter. Acadian Asset Management LLC now owns 216,895 shares of the information services provider’s stock worth $21,754,000 after buying an additional 173,404 shares during the period. Institutional investors own 88.15% of the company’s stock.

Wix.Com Company Profile

Wix.com Ltd. develops and markets an Internet service that allows users to create Web content in Latin America, Europe, North America, Asia, and internationally. It offers Web development, design, and management solutions and apps through an online platform that enables its user base of businesses, organizations, professionals, and individuals to create a digital presence.

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Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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