Wix.com (NASDAQ:WIX) Rating Lowered to Buy at Wall Street Zen

Wix.com (NASDAQ:WIX - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday.

A number of other analysts also recently commented on the company. Morgan Stanley dropped their price objective on Wix.com from $276.00 to $207.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Robert W. Baird upgraded Wix.com from a "neutral" rating to an "outperform" rating and lowered their target price for the company from $215.00 to $190.00 in a research note on Friday. Wells Fargo & Company cut their price target on shares of Wix.com from $176.00 to $173.00 and set an "equal weight" rating on the stock in a report on Thursday, May 22nd. Jefferies Financial Group reduced their target price on Wix.com from $265.00 to $230.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, JMP Securities reissued a "market outperform" rating and issued a $250.00 target price on shares of Wix.com in a report on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, Wix.com presently has a consensus rating of "Moderate Buy" and an average target price of $226.16.

Wix.com Trading Up 0.6%

Shares of Wix.com stock traded up $0.90 during trading hours on Friday, hitting $152.16. 1,539,342 shares of the company were exchanged, compared to its average volume of 654,801. The stock has a market capitalization of $8.54 billion, a price-to-earnings ratio of 64.75, a P/E/G ratio of 2.83 and a beta of 1.56. The business has a 50-day moving average of $165.00 and a 200-day moving average of $196.72. Wix.com has a 1 year low of $137.94 and a 1 year high of $247.11.

Wix.com declared that its board has initiated a share buyback plan on Thursday, February 27th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the information services provider to repurchase up to 1.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Institutional Investors Weigh In On Wix.com

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. lifted its position in Wix.com by 63.5% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider's stock valued at $28,000 after purchasing an additional 66 shares during the period. Twin Tree Management LP purchased a new position in Wix.com during the 1st quarter valued at about $29,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Wix.com during the 4th quarter worth approximately $43,000. Avior Wealth Management LLC lifted its position in shares of Wix.com by 79.5% in the fourth 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. Finally, Global Retirement Partners LLC boosted its stake in shares of Wix.com by 36.0% during the 4th quarter. Global Retirement Partners LLC now owns 219 shares of the information services provider's stock worth $47,000 after purchasing an additional 58 shares during the last quarter. 81.52% of the stock is owned by hedge funds and other 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.