Wix.com (NASDAQ:WIX) Upgraded by Morgan Stanley to Overweight Rating

Wix.com (NASDAQ:WIX) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research report issued on Monday, Marketbeat reports. The firm presently has a $276.00 target price on the information services provider’s stock, up from their previous target price of $248.00. Morgan Stanley’s price target points to a potential upside of 26.25% from the company’s previous close.

WIX has been the topic of several other research reports. Cantor Fitzgerald boosted their price target on shares of Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Piper Sandler boosted their price target on shares of Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Evercore ISI raised shares of Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $200.00 price target on shares of Wix.com in a report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Wix.com has an average rating of “Moderate Buy” and an average price target of $225.82.

Wix.com Trading Down 2.6 %

Shares of WIX stock opened at $218.62 on Monday. Wix.com has a 1 year low of $117.58 and a 1 year high of $229.79. The firm’s fifty day simple moving average is $209.67 and its 200 day simple moving average is $178.72. The firm has a market capitalization of $11.99 billion, a P/E ratio of 136.64, a price-to-earnings-growth ratio of 4.22 and a beta of 1.56.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted 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 valued at $31,000 after purchasing an additional 98 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Wix.com by 112.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 246 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 130 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Wix.com by 962.7% in the 4th quarter. GAMMA Investing LLC now owns 542 shares of the information services provider’s stock valued at $116,000 after acquiring an additional 491 shares during the last quarter. CWM LLC increased its stake in shares of Wix.com by 19.0% in the 3rd quarter. CWM LLC now owns 632 shares of the information services provider’s stock valued at $106,000 after acquiring an additional 101 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of 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 acquiring an additional 124 shares during the last quarter. 81.52% of the stock is currently owned by institutional investors and hedge funds.

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.