Wix.com (NASDAQ:WIX) Trading 3.8% Higher – Time to Buy?

Wix.com Ltd. (NASDAQ:WIX)’s share price was up 3.8% during mid-day trading on Tuesday . The company traded as high as $191.68 and last traded at $190.67. Approximately 101,111 shares were traded during trading, a decline of 81% from the average daily volume of 539,294 shares. The stock had previously closed at $183.64.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Benchmark boosted their price target on shares of Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of Wix.com in a report on Monday, October 7th. Evercore ISI raised Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Barclays lowered their price objective on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, UBS Group lifted their price target on shares of Wix.com from $200.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $190.06.

Wix.com Stock Performance

The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 146.30, a P/E/G ratio of 4.02 and a beta of 1.47. The stock’s 50-day moving average price is $165.02 and its 200-day moving average price is $159.37.

Institutional Investors Weigh In On Wix.com

Large investors have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. increased its stake in shares of Wix.com by 46.2% during the 1st quarter. Russell Investments Group Ltd. now owns 99,381 shares of the information services provider’s stock worth $13,612,000 after purchasing an additional 31,388 shares in the last quarter. US Bancorp DE raised its stake in Wix.com by 42.0% in the 1st quarter. US Bancorp DE now owns 10,050 shares of the information services provider’s stock valued at $1,382,000 after purchasing an additional 2,974 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Wix.com during the 1st quarter worth about $915,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Wix.com by 2,110.8% during the first quarter. State Board of Administration of Florida Retirement System now owns 69,595 shares of the information services provider’s stock valued at $9,568,000 after buying an additional 66,447 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Wix.com by 36.6% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,406 shares of the information services provider’s stock valued at $4,318,000 after acquiring an additional 8,422 shares during the last quarter. 81.52% of the stock is 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.