Wix.com (NASDAQ:WIX) Receives Outperform Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Wix.com (NASDAQ:WIX) in a research report sent to investors on Thursday morning,Benzinga reports. They currently have a $245.00 price target on the information services provider’s stock.

WIX has been the topic of a number of other research reports. JMP Securities restated a “market outperform” rating and issued a $240.00 target price on shares of Wix.com in a research report on Tuesday. StockNews.com upgraded Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. JPMorgan Chase & Co. cut their price objective on Wix.com from $205.00 to $189.00 and set a “neutral” rating on the stock in a report on Wednesday. Benchmark boosted their price objective on Wix.com from $250.00 to $260.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company started coverage on Wix.com in a report on Monday, February 3rd. They issued an “underweight” rating and a $208.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Wix.com currently has an average rating of “Moderate Buy” and a consensus target price of $245.11.

Wix.com Stock Down 6.2 %

NASDAQ:WIX opened at $203.65 on Thursday. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11. The company has a market capitalization of $11.16 billion, a P/E ratio of 127.28, a P/E/G ratio of 2.54 and a beta of 1.58. The stock’s fifty day moving average is $226.63 and its two-hundred day moving average is $192.98.

Institutional Investors Weigh In On Wix.com

Several large investors have recently bought and sold shares of WIX. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of Wix.com by 23.1% during 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 acquiring an additional 49,500 shares in the last quarter. BNP Paribas Financial Markets boosted its position in shares of Wix.com by 60.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 30,393 shares of the information services provider’s stock valued at $5,081,000 after purchasing an additional 11,497 shares during the period. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com in the 4th quarter valued at about $256,000. Cumberland Partners Ltd boosted its position in shares of Wix.com by 18.8% in the 3rd quarter. Cumberland Partners Ltd now owns 19,000 shares of the information services provider’s stock valued at $3,176,000 after purchasing an additional 3,000 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new stake in Wix.com during the 3rd quarter valued at approximately $461,000. 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.