Wells Fargo & Company Begins Coverage on Wix.com (NASDAQ:WIX)

Wells Fargo & Company initiated coverage on shares of Wix.com (NASDAQ:WIX) in a research note issued to investors on Monday morning, Marketbeat.com reports. The brokerage issued an underweight rating and a $208.00 price objective on the information services provider’s stock.

A number of other research firms have also recently weighed in on WIX. Royal Bank of Canada increased their price objective on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Morgan Stanley raised shares of Wix.com from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $248.00 to $276.00 in a research note on Monday, January 13th. Raymond James upgraded shares of Wix.com from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $225.00 to $300.00 in a research note on Tuesday, January 21st. Robert W. Baird increased their price target 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. Finally, Piper Sandler lifted their price objective on Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $232.61.

Wix.com Stock Performance

Shares of Wix.com stock opened at $230.49 on Monday. The company’s fifty day moving average is $225.74 and its two-hundred day moving average is $187.01. Wix.com has a 1 year low of $117.58 and a 1 year high of $247.11. The company has a market capitalization of $12.64 billion, a P/E ratio of 144.06, a PEG ratio of 2.66 and a beta of 1.58.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WIX. Senvest Management LLC lifted its holdings in Wix.com by 4.7% during the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after purchasing an additional 50,482 shares during the last quarter. Whale Rock Capital Management LLC lifted its position in shares of Wix.com by 31.6% during the third quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock worth $115,475,000 after purchasing an additional 165,810 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Wix.com by 558.5% during the fourth quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after purchasing an additional 400,265 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Wix.com by 3.2% in the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after purchasing an additional 14,340 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in Wix.com by 23.1% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 263,534 shares of the information services provider’s stock worth $44,055,000 after purchasing an additional 49,500 shares during the last quarter. Institutional investors own 81.52% of the company’s stock.

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.