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

Analysts at Wells Fargo & Company started coverage on shares of Wix.com (NASDAQ:WIX) in a report released on Monday,Benzinga reports. The firm set an “underweight” rating and a $208.00 price target on the information services provider’s stock. Wells Fargo & Company‘s price target would suggest a potential downside of 12.93% from the company’s current price.

WIX has been the subject of a number of other research reports. Bank of America upped their price target on Wix.com from $190.00 to $228.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada upped their price target on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald increased their target price on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Citigroup increased their target price on Wix.com from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Friday, January 3rd. Finally, Benchmark increased their price target on Wix.com from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $232.61.

Wix.com Stock Down 1.4 %

Shares of WIX stock opened at $238.89 on Monday. The firm has a market cap of $13.10 billion, a P/E ratio of 149.31, a price-to-earnings-growth ratio of 2.66 and a beta of 1.58. The business has a 50-day moving average price of $225.74 and a two-hundred day moving average price of $187.01. Wix.com has a 12-month low of $117.58 and a 12-month high of $247.11.

Institutional Trading of Wix.com

A number of hedge funds have recently bought and sold shares of the business. Senvest Management LLC raised its holdings in Wix.com by 4.7% in 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 acquiring an additional 50,482 shares during the last quarter. Whale Rock Capital Management LLC raised its holdings in Wix.com by 31.6% in the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after acquiring an additional 165,810 shares during the last quarter. SG Americas Securities LLC raised its holdings in Wix.com by 558.5% in the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider’s stock valued at $101,253,000 after acquiring an additional 400,265 shares during the last quarter. Geode Capital Management LLC raised its holdings in Wix.com by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock valued at $76,848,000 after acquiring an additional 14,340 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of 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 valued at $44,055,000 after buying an additional 49,500 shares during the period. Institutional investors and hedge funds 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.