Wix.Com (WIX) Lifted to “Strong-Buy” at Raymond James Financial

Wix.Com (NASDAQ:WIX) was upgraded by equities researchers at Raymond James Financial from a “market perform” rating to a “strong-buy” rating in a report released on Thursday, January 4th, MarketBeat reports. The brokerage currently has a $74.00 price target on the information services provider’s stock. Raymond James Financial’s target price would indicate a potential upside of 21.51% from the stock’s previous close.

A number of other brokerages have also recently issued reports on WIX. BidaskClub raised shares of Wix.Com from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. SunTrust Banks reissued a “buy” rating and set a $73.00 target price on shares of Wix.Com in a report on Monday, November 6th. KeyCorp set a $88.00 target price on shares of Wix.Com and gave the company a “buy” rating in a report on Wednesday, October 11th. Northland Securities reissued a “buy” rating and set a $75.00 target price on shares of Wix.Com in a report on Thursday, September 21st. Finally, Zacks Investment Research raised shares of Wix.Com from a “sell” rating to a “hold” rating in a report on Thursday, September 28th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $77.53.

Wix.Com (WIX) traded down $0.35 during trading hours on Thursday, hitting $60.90. 276,700 shares of the company were exchanged, compared to its average volume of 560,075. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market cap of $2,780.00, a PE ratio of -47.95 and a beta of 2.25. Wix.Com has a 52 week low of $49.45 and a 52 week high of $86.15.

A number of large investors have recently made changes to their positions in WIX. BT Investment Management Ltd purchased a new stake in Wix.Com during the second quarter valued at about $141,000. Advisor Group Inc. raised its stake in shares of Wix.Com by 196.5% during the second quarter. Advisor Group Inc. now owns 2,965 shares of the information services provider’s stock valued at $207,000 after acquiring an additional 1,965 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Wix.Com by 2.8% during the second quarter. Legal & General Group Plc now owns 3,700 shares of the information services provider’s stock valued at $258,000 after acquiring an additional 100 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Wix.Com by 3.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,380 shares of the information services provider’s stock valued at $374,000 after acquiring an additional 181 shares during the last quarter. Finally, Pacad Investment Ltd. raised its stake in shares of Wix.Com by 5,750.0% during the second quarter. Pacad Investment Ltd. now owns 5,850 shares of the information services provider’s stock valued at $407,000 after acquiring an additional 5,750 shares during the last quarter. Institutional investors own 79.23% of the company’s stock.

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Wix.Com Company Profile

Wix.com Ltd. (Wix) is a Web development platform enabling businesses and organizations to take businesses, brands and workflow online. The Company provides solutions that business owners can use to operate various aspects of their business online, such as selling goods, taking reservations, and scheduling and confirming appointments.

Analyst Recommendations for Wix.Com (NASDAQ:WIX)

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