Wix.com (NASDAQ:WIX) Receives "Overweight" Rating from Cantor Fitzgerald

Wix.com (NASDAQ:WIX - Get Free Report)'s stock had its "overweight" rating reaffirmed by equities research analysts at Cantor Fitzgerald in a note issued to investors on Thursday,Benzinga reports. They presently have a $200.00 price objective on the information services provider's stock. Cantor Fitzgerald's target price would indicate a potential upside of 29.23% from the stock's previous close.

A number of other equities research analysts have also recently weighed in on WIX. Needham & Company LLC reissued a "buy" rating and issued a $250.00 price target on shares of Wix.com in a research report on Wednesday, May 21st. Bank of America reduced their target price on Wix.com from $270.00 to $230.00 and set a "buy" rating for the company in a report on Wednesday, May 21st. Wall Street Zen raised Wix.com from a "buy" rating to a "strong-buy" rating in a research report on Thursday, April 3rd. Citigroup dropped their price target on Wix.com from $280.00 to $238.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $245.00 price objective on shares of Wix.com in a research note on Thursday, February 20th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $226.16.

Wix.com Stock Up 2.3%

Wix.com stock traded up $3.51 during mid-day trading on Thursday, hitting $154.77. The company had a trading volume of 835,946 shares, compared to its average volume of 652,162. Wix.com has a 1 year low of $137.94 and a 1 year high of $247.11. The business has a fifty day moving average of $165.00 and a 200 day moving average of $196.72. The stock has a market cap of $8.68 billion, a price-to-earnings ratio of 65.89, a PEG ratio of 2.83 and a beta of 1.56.

Wix.com announced that its board has approved a stock buyback program on Thursday, February 27th that permits the company to repurchase $200.00 million in 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 believes its shares are undervalued.

Institutional Trading of Wix.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC acquired a new stake in Wix.com in the fourth quarter valued at about $321,000. MassMutual Private Wealth & Trust FSB increased its position in Wix.com by 113.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 262 shares of the information services provider's stock worth $56,000 after purchasing an additional 139 shares during the period. SG Americas Securities LLC raised its stake in shares of Wix.com by 558.5% during the 4th quarter. SG Americas Securities LLC now owns 471,933 shares of the information services provider's stock worth $101,253,000 after buying an additional 400,265 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Wix.com by 79.5% in the 4th quarter. Avior Wealth Management LLC now owns 201 shares of the information services provider's stock valued at $43,000 after buying an additional 89 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of Wix.com by 1,439.4% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 10,545 shares of the information services provider's stock valued at $2,262,000 after buying an additional 9,860 shares in the last quarter. 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.