Wix.com’s (WIX) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Wix.com (NASDAQ:WIX) in a research note published on Wednesday morning,Benzinga reports. They currently have a $235.00 price objective on the information services provider’s stock.

WIX has been the subject of several other reports. Wells Fargo & Company started coverage on shares of Wix.com in a research note on Monday, February 3rd. They set an “underweight” rating and a $208.00 price objective for the company. B. Riley boosted their target price on shares of Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Citigroup boosted their target price on shares of Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a research report on Saturday, November 23rd. Finally, Barclays boosted their target price on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Wix.com currently has a consensus rating of “Moderate Buy” and an average price target of $245.83.

Wix.com Trading Down 2.7 %

NASDAQ:WIX opened at $198.11 on Wednesday. Wix.com has a 12 month low of $117.58 and a 12 month high of $247.11. The firm has a fifty day simple moving average of $226.20 and a 200-day simple moving average of $193.31. The company has a market capitalization of $10.86 billion, a P/E ratio of 84.30, a PEG ratio of 2.42 and a beta of 1.58.

Institutional Trading of Wix.com

A number of institutional investors and hedge funds have recently modified their holdings of WIX. Wellington Management Group LLP increased its stake in shares of Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after purchasing an additional 1,266,202 shares in the last quarter. Durable Capital Partners LP purchased a new stake in shares of Wix.com during the fourth quarter worth about $89,839,000. SG Americas Securities LLC increased 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 worth $101,253,000 after purchasing an additional 400,265 shares in the last quarter. Whale Rock Capital Management LLC increased its stake in shares of Wix.com by 55.1% during the fourth quarter. Whale Rock Capital Management LLC now owns 1,071,565 shares of the information services provider’s stock worth $229,904,000 after purchasing an additional 380,800 shares in the last quarter. Finally, Senvest Management LLC grew its stake in Wix.com by 27.3% during the 4th quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock valued at $305,260,000 after acquiring an additional 304,712 shares in the last quarter. Hedge funds and other 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.