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

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

Several other equities analysts have also commented on the stock. JMP Securities restated a “market outperform” rating and issued a $240.00 price objective on shares of Wix.com in a report on Tuesday. Cantor Fitzgerald increased their price objective on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Barclays increased their price objective 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. Citigroup increased 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. Finally, Piper Sandler increased their target price 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. One equities 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 given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.83.

Wix.com Price Performance

NASDAQ:WIX opened at $198.11 on Wednesday. The firm has a market capitalization of $10.86 billion, a price-to-earnings ratio of 84.30, a PEG ratio of 2.42 and a beta of 1.58. The company’s 50-day moving average is $226.20 and its two-hundred day moving average is $193.31. Wix.com has a 1-year low of $117.58 and a 1-year high of $247.11.

Institutional Trading of Wix.com

Several hedge funds and other institutional investors have recently made changes to their positions in WIX. Wellington Management Group LLP lifted its stake in shares of Wix.com by 518.3% in the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock valued at $324,081,000 after purchasing an additional 1,266,202 shares during the period. Durable Capital Partners LP purchased a new position in Wix.com during the 4th quarter valued at about $89,839,000. SG Americas Securities LLC grew its holdings 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 buying an additional 400,265 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings 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 buying an additional 380,800 shares in the last quarter. Finally, Senvest Management LLC grew its holdings in shares of Wix.com by 27.3% during the fourth quarter. Senvest Management LLC now owns 1,422,793 shares of the information services provider’s stock worth $305,260,000 after buying an additional 304,712 shares in the last quarter. Institutional investors and hedge funds 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.