Raymond James Upgrades Wix.com (NASDAQ:WIX) to Strong-Buy

Raymond James upgraded shares of Wix.com (NASDAQ:WIX) from an outperform rating to a strong-buy rating in a research report report published on Tuesday, MarketBeat reports. Raymond James currently has $300.00 target price on the information services provider’s stock, up from their previous target price of $225.00.

Several other analysts also recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and issued a $200.00 target price on shares of Wix.com in a report on Wednesday, November 20th. StockNews.com upgraded shares of Wix.com from a “hold” rating to a “buy” rating in a report on Saturday, November 23rd. Evercore ISI upgraded shares of Wix.com to a “strong-buy” rating in a report on Thursday, November 21st. Finally, Barclays raised their price target on shares of Wix.com from $184.00 to $236.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $234.06.

Wix.com Stock Performance

Wix.com stock opened at $238.17 on Tuesday. Wix.com has a fifty-two week low of $117.58 and a fifty-two week high of $246.82. The firm has a 50 day moving average price of $217.71 and a 200 day moving average price of $182.11. The company has a market capitalization of $13.06 billion, a PE ratio of 148.86, a price-to-earnings-growth ratio of 2.69 and a beta of 1.56.

Institutional Investors Weigh In On Wix.com

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in Wix.com by 448.6% in the second quarter. Dimensional Fund Advisors LP now owns 8,646 shares of the information services provider’s stock valued at $1,375,000 after purchasing an additional 7,070 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of Wix.com during the second quarter worth about $259,000. Mount Yale Investment Advisors LLC acquired a new position in shares of Wix.com during the second quarter worth about $716,000. Public Sector Pension Investment Board increased its stake in shares of Wix.com by 3.6% during the second quarter. Public Sector Pension Investment Board now owns 22,215 shares of the information services provider’s stock worth $3,534,000 after acquiring an additional 781 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of Wix.com by 11.0% during the second quarter. Bank of Montreal Can now owns 23,577 shares of the information services provider’s stock worth $3,757,000 after acquiring an additional 2,330 shares during the period. 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.