Wix.Com (WIX) Shares Up 6.5%

Shares of Wix.Com Ltd (NASDAQ:WIX) shot up 6.5% during mid-day trading on Thursday . The company traded as high as $62.85 and last traded at $62.10. 1,044,762 shares traded hands during mid-day trading, an increase of 24% from the average session volume of 842,921 shares. The stock had previously closed at $58.30.

WIX has been the subject of several recent research reports. Zacks Investment Research lowered Wix.Com from a “hold” rating to a “sell” rating in a report on Wednesday, November 15th. KeyCorp reiterated an “overweight” rating on shares of Wix.Com in a report on Wednesday, November 8th. Barclays cut their price objective on Wix.Com from $77.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, November 9th. UBS Group upgraded Wix.Com from an “outperform” rating to a “strong-buy” rating in a report on Thursday. Finally, BidaskClub upgraded Wix.Com from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.53.

The stock has a market cap of $2,780.00, a PE ratio of -47.76 and a beta of 2.25. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28.

Several large investors have recently modified their holdings of WIX. Renaissance Technologies LLC grew its position in Wix.Com by 23.7% during the second quarter. Renaissance Technologies LLC now owns 2,414,400 shares of the information services provider’s stock worth $168,042,000 after buying an additional 462,700 shares in the last quarter. Bamco Inc. NY grew its position in Wix.Com by 91.3% during the third quarter. Bamco Inc. NY now owns 1,500,095 shares of the information services provider’s stock worth $107,782,000 after buying an additional 715,951 shares in the last quarter. Menora Mivtachim Holdings LTD. grew its position in Wix.Com by 146.1% during the third quarter. Menora Mivtachim Holdings LTD. now owns 1,050,796 shares of the information services provider’s stock worth $75,500,000 after buying an additional 623,876 shares in the last quarter. Light Street Capital Management LLC grew its position in Wix.Com by 141.2% during the second quarter. Light Street Capital Management LLC now owns 1,025,000 shares of the information services provider’s stock worth $71,340,000 after buying an additional 600,000 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Wix.Com by 46.6% during the third quarter. Victory Capital Management Inc. now owns 928,230 shares of the information services provider’s stock worth $66,693,000 after buying an additional 295,240 shares in the last quarter. 79.23% of the stock is currently owned by institutional investors.

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About Wix.Com

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.

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