Wix.com (NASDAQ:WIX) Stock Rating Upgraded by Raymond James

Raymond James upgraded shares of Wix.com (NASDAQ:WIX) from an outperform rating to a strong-buy rating in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage currently has $300.00 price objective on the information services provider’s stock, up from their prior price objective of $225.00.

A number of other equities analysts have also commented on the company. Citigroup lifted their price objective on Wix.com from $260.00 to $270.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Evercore ISI raised Wix.com to a “strong-buy” rating in a research report on Thursday, November 21st. Cantor Fitzgerald increased their price objective on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $200.00 target price on shares of Wix.com in a research report on Wednesday, November 20th. Finally, StockNews.com raised shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $234.06.

Wix.com Price Performance

Shares of WIX opened at $236.56 on Tuesday. The company has a market capitalization of $12.97 billion, a PE ratio of 147.85, a price-to-earnings-growth ratio of 2.66 and a beta of 1.56. Wix.com has a one year low of $117.58 and a one year high of $246.82. The company’s fifty day moving average price is $219.71 and its 200 day moving average price is $183.07.

Institutional Investors Weigh In On Wix.com

Institutional investors have recently added to or reduced their stakes in the stock. Dorsal Capital Management LP lifted its position in shares of Wix.com by 23.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after buying an additional 250,000 shares during the period. Clearbridge Investments LLC raised its stake in Wix.com by 2.9% during the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after acquiring an additional 33,338 shares in the last quarter. Senvest Management LLC lifted its holdings in shares of Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after acquiring an additional 50,482 shares during the period. Whale Rock Capital Management LLC boosted its stake in shares of Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after purchasing an additional 165,810 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock worth $101,253,000 after purchasing an additional 400,265 shares during the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

About Wix.com

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.