Wix.com (NASDAQ:WIX) Lowered to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Wix.com (NASDAQ:WIX) from a buy rating to a hold rating in a report published on Saturday.

WIX has been the topic of several other research reports. Citizens Jmp dropped their price target on shares of Wix.com from $210.00 to $185.00 and set a “market outperform” rating on the stock in a research report on Thursday. B. Riley restated a “buy” rating and issued a $200.00 price target (down previously from $230.00) on shares of Wix.com in a research note on Thursday. Cfra Research raised Wix.com from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 12th. Wells Fargo & Company dropped their price objective on Wix.com from $216.00 to $184.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, JPMorgan Chase & Co. cut their price objective on Wix.com from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $181.24.

Wix.com Trading Down 4.0%

Wix.com stock opened at $95.51 on Friday. The firm has a market cap of $5.36 billion, a PE ratio of 40.82, a P/E/G ratio of 1.97 and a beta of 1.31. Wix.com has a 12 month low of $93.50 and a 12 month high of $247.11. The stock’s 50 day simple moving average is $144.97 and its two-hundred day simple moving average is $149.08.

Wix.com announced that its Board of Directors has approved a share buyback plan on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the information services provider to repurchase up to 2.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Institutional Trading of Wix.com

A number of hedge funds have recently bought and sold shares of WIX. Westside Investment Management Inc. boosted its holdings in shares of Wix.com by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 154 shares of the information services provider’s stock worth $27,000 after purchasing an additional 77 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in Wix.com by 63.5% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 170 shares of the information services provider’s stock worth $28,000 after buying an additional 66 shares in the last quarter. Twin Tree Management LP acquired a new position in Wix.com during the first quarter worth $29,000. Geneos Wealth Management Inc. grew its holdings in Wix.com by 632.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the information services provider’s stock valued at $41,000 after buying an additional 215 shares in the last quarter. Finally, National Bank of Canada FI acquired a new stake in shares of Wix.com in the 3rd quarter worth $54,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.