Wix.com (NASDAQ:WIX) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Wix.com (NASDAQ:WIX) from a hold rating to a buy rating in a research report released on Saturday.

WIX has been the subject of a number of other reports. B. Riley Financial reaffirmed a “buy” rating and issued a $200.00 price objective (down from $230.00) on shares of Wix.com in a research note on Thursday, November 20th. Cantor Fitzgerald boosted their price target on shares of Wix.com from $135.00 to $140.00 and gave the company an “overweight” rating in a report on Thursday, December 11th. Barclays lowered their price target on shares of Wix.com from $210.00 to $205.00 and set an “overweight” rating for the company in a research report on Wednesday, January 21st. Raymond James Financial set a $74.00 price objective on shares of Wix.com in a research note on Wednesday, January 7th. Finally, Scotiabank lowered their target price on Wix.com from $255.00 to $175.00 and set a “sector outperform” rating for the company in a report on Thursday, November 20th. Two analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $154.05.

Wix.com Trading Up 3.0%

Shares of WIX stock opened at $72.56 on Friday. Wix.com has a twelve month low of $60.22 and a twelve month high of $202.43. The stock has a fifty day simple moving average of $84.55 and a two-hundred day simple moving average of $116.74. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 2.19 and a beta of 1.40.

Wix.com announced that its Board of Directors has authorized a stock repurchase program on Wednesday, January 28th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the information services provider to purchase up to 40.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Wix.com

A number of large investors have recently modified their holdings of WIX. Westside Investment Management Inc. lifted its stake in Wix.com by 100.0% during the third quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Wix.com by 122.2% during the 4th quarter. Farther Finance Advisors LLC now owns 240 shares of the information services provider’s stock worth $25,000 after buying an additional 132 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Wix.com by 632.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock worth $41,000 after buying an additional 215 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of Wix.com in the 4th quarter valued at $27,000. Finally, National Bank of Canada FI acquired a new stake in Wix.com during the 3rd quarter worth $54,000. Hedge funds and other institutional investors own 81.52% of the company’s stock.

Wix.com Company Profile

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.