Wix.com (NASDAQ:WIX) Earns Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Wix.com (NASDAQ:WIX) in a report released on Tuesday morning,Benzinga reports. They currently have a $240.00 target price on the information services provider’s stock.

WIX has been the subject of several other reports. JPMorgan Chase & Co. upped their target price on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Jefferies Financial Group upped their target price on Wix.com from $225.00 to $260.00 and gave the company a “buy” rating in a report on Monday, January 6th. Royal Bank of Canada upped their target price on Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. B. Riley upped their target price on Wix.com from $190.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Evercore ISI raised Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $245.11.

Wix.com Stock Performance

Shares of WIX opened at $203.65 on Tuesday. The firm 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 has a 50 day moving average price of $226.63 and a two-hundred day moving average price of $192.98. Wix.com has a 52 week low of $117.58 and a 52 week high of $247.11.

Institutional Investors Weigh In On Wix.com

Several institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in shares of Wix.com by 518.3% during the fourth quarter. Wellington Management Group LLP now owns 1,510,515 shares of the information services provider’s stock worth $324,081,000 after acquiring an additional 1,266,202 shares in the last quarter. Dorsal Capital Management LP lifted its position in shares of Wix.com by 1.8% during the fourth quarter. Dorsal Capital Management LP now owns 1,425,000 shares of the information services provider’s stock worth $305,734,000 after acquiring an additional 25,000 shares in the last quarter. Senvest Management LLC lifted its position 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 acquiring an additional 304,712 shares in the last quarter. Whale Rock Capital Management LLC lifted its position 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 acquiring an additional 380,800 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Wix.com by 21.0% during the fourth quarter. Renaissance Technologies LLC now owns 937,549 shares of the information services provider’s stock worth $201,151,000 after acquiring an additional 162,400 shares in the last quarter. Hedge funds and other institutional investors 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.