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

Wix.com (NASDAQ:WIX) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

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

Wix.com Price Performance

Shares of Wix.com stock traded down $4.00 on Friday, hitting $180.01. 338,989 shares of the company’s stock traded hands, compared to its average volume of 541,652. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 142.87, a price-to-earnings-growth ratio of 3.92 and a beta of 1.47. The company has a fifty day moving average of $165.51 and a two-hundred day moving average of $159.54. Wix.com has a one year low of $92.25 and a one year high of $192.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dorsal Capital Management LP lifted its position in Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after acquiring an additional 250,000 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Wix.com by 545.7% in the 3rd quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after purchasing an additional 201,532 shares in the last quarter. Renaissance Technologies LLC increased its position in Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after purchasing an additional 171,500 shares during the period. Whale Rock Capital Management LLC boosted its stake in shares of Wix.com by 31.6% in the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after buying an additional 165,810 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new stake in Wix.com in the second quarter valued at $13,646,000. 81.52% of the stock is currently 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.