Wix.com (NASDAQ:WIX) Upgraded at Morgan Stanley

Morgan Stanley upgraded shares of Wix.com (NASDAQ:WIX) from an equal weight rating to an overweight rating in a report released on Monday morning, MarketBeat Ratings reports. The brokerage currently has $276.00 price objective on the information services provider’s stock, up from their previous price objective of $248.00.

A number of other equities research analysts also recently weighed in on the company. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Bank of America upped their price objective on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Evercore ISI raised Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Benchmark upped their price target on shares of Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Piper Sandler raised their price objective on shares of Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $225.82.

Wix.com Trading Up 2.3 %

WIX stock opened at $241.84 on Monday. The firm’s 50-day moving average is $213.81 and its two-hundred day moving average is $180.16. The company has a market capitalization of $13.26 billion, a price-to-earnings ratio of 151.15, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56. Wix.com has a 52 week low of $117.58 and a 52 week high of $244.10.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of WIX. Blue Trust Inc. boosted its position in Wix.com by 98.0% during the 3rd quarter. Blue Trust Inc. now owns 198 shares of the information services provider’s stock worth $31,000 after acquiring an additional 98 shares during the period. Advisors Asset Management Inc. lifted its position in shares of Wix.com by 112.1% in the third quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock worth $41,000 after purchasing an additional 130 shares in the last quarter. CWM LLC boosted its holdings in shares of Wix.com by 19.0% during the third quarter. CWM LLC now owns 632 shares of the information services provider’s stock worth $106,000 after purchasing an additional 101 shares during the period. GAMMA Investing LLC grew its position in Wix.com by 962.7% during the fourth quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock valued at $116,000 after purchasing an additional 491 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Wix.com by 19.0% in the 2nd quarter. Toronto Dominion Bank now owns 778 shares of the information services provider’s stock valued at $124,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 81.52% of the company’s stock.

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.