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 note issued on Saturday.

Other equities analysts also recently issued reports about the company. Citigroup lowered their price objective on Wix.com from $280.00 to $238.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Oppenheimer lowered their price objective on Wix.com from $250.00 to $220.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 price objective on shares of Wix.com in a research report on Thursday, May 22nd. JMP Securities reissued a "market outperform" rating and set a $250.00 price objective on shares of Wix.com in a research report on Thursday, May 22nd. Finally, Royal Bank of Canada lowered their price objective on Wix.com from $245.00 to $210.00 and set an "outperform" rating for the company in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $226.68.

Wix.com Stock Down 0.9%

NASDAQ WIX traded down $1.37 during trading on Friday, hitting $150.93. The stock had a trading volume of 785,006 shares, compared to its average volume of 656,848. The company has a market capitalization of $8.47 billion, a PE ratio of 64.23, a PEG ratio of 2.83 and a beta of 1.56. The firm has a 50 day moving average price of $163.82 and a 200 day moving average price of $195.88. Wix.com has a twelve month low of $137.94 and a twelve month high of $247.11.

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised 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 worth $28,000 after acquiring an additional 66 shares in the last quarter. Twin Tree Management LP purchased a new position in Wix.com in the first quarter worth $29,000. Geneos Wealth Management Inc. raised its position in Wix.com by 632.4% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider's stock worth $41,000 after acquiring an additional 215 shares in the last quarter. Avior Wealth Management LLC raised its position in Wix.com by 79.5% in the fourth quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock worth $43,000 after acquiring an additional 89 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Wix.com in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 81.52% of the company's stock.

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.