Wix.com (NASDAQ:WIX) Given Buy Rating at B. Riley

Wix.com (NASDAQ:WIX - Get Free Report)'s stock had its "buy" rating restated by equities research analysts at B. Riley in a research note issued on Wednesday,Benzinga reports. They presently have a $230.00 target price on the information services provider's stock, down from their prior target price of $240.00. B. Riley's price target would indicate a potential upside of 47.37% from the company's previous close.

A number of other brokerages have also recently weighed in on WIX. Wells Fargo & Company cut their price objective on shares of Wix.com from $176.00 to $173.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 22nd. Baird R W upgraded shares of Wix.com from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and issued a $250.00 price target on shares of Wix.com in a research report on Thursday, May 22nd. JPMorgan Chase & Co. dropped their price target on shares of Wix.com from $205.00 to $189.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 19th. Finally, Benchmark dropped their price target on shares of Wix.com from $260.00 to $245.00 and set a "buy" rating on the stock in a research report on Monday, May 19th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $226.68.

Wix.com Stock Performance

Shares of NASDAQ:WIX traded up $3.92 during trading hours on Wednesday, hitting $156.08. The stock had a trading volume of 389,061 shares, compared to its average volume of 653,854. The stock's fifty day simple moving average is $164.66 and its 200 day simple moving average is $196.41. Wix.com has a 1-year low of $137.94 and a 1-year high of $247.11. The firm has a market capitalization of $8.76 billion, a price-to-earnings ratio of 66.41, a PEG ratio of 2.83 and a beta of 1.56.

Wix.com declared that its Board of Directors has approved a stock repurchase program on Thursday, February 27th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the information services provider to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Wix.com

Several hedge funds have recently modified their holdings of WIX. Avior Wealth Management LLC boosted its position in shares of Wix.com by 79.5% during the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after acquiring an additional 89 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Wix.com during the 4th quarter valued at about $256,000. Blue Trust Inc. boosted its position in shares of Wix.com by 28.3% during the 4th quarter. Blue Trust Inc. now owns 254 shares of the information services provider's stock valued at $54,000 after acquiring an additional 56 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Wix.com during the 4th quarter valued at about $131,000. Finally, Mediolanum International Funds Ltd boosted its position in shares of Wix.com by 50.4% during the 4th quarter. Mediolanum International Funds Ltd now owns 20,147 shares of the information services provider's stock valued at $4,369,000 after acquiring an additional 6,747 shares in the last quarter. 81.52% of the stock is owned by institutional investors.

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.

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