Barclays Forecasts Strong Price Appreciation for Wix.com (NASDAQ:WIX) Stock

Wix.com (NASDAQ:WIX) had its price objective upped by Barclays from $184.00 to $236.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the information services provider’s stock.

Other research analysts have also issued research reports about the company. KeyCorp began coverage on Wix.com in a research report on Thursday, July 25th. They set a “sector weight” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of Wix.com in a research report on Monday, October 7th. Needham & Company LLC restated a “buy” rating and set a $200.00 price target on shares of Wix.com in a research report on Wednesday. Benchmark lifted their price objective on Wix.com from $210.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. increased their target price on Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and an average target price of $210.44.

Wix.com Trading Down 0.9 %

NASDAQ WIX opened at $217.20 on Wednesday. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of 136.76, a PEG ratio of 3.91 and a beta of 1.47. The stock has a 50-day moving average of $169.52 and a 200 day moving average of $162.14. Wix.com has a twelve month low of $95.65 and a twelve month high of $220.22.

Institutional Investors Weigh In On Wix.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. Dorsal Capital Management LP raised its position in Wix.com by 23.8% in the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after purchasing an additional 250,000 shares during the period. Clearbridge Investments LLC grew its stake in shares of Wix.com by 2.9% in the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock valued at $190,482,000 after buying an additional 33,338 shares in the last quarter. Senvest Management LLC raised its holdings in shares of Wix.com by 4.7% in the 3rd quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock valued at $186,910,000 after buying an additional 50,482 shares during the period. Renaissance Technologies LLC lifted its stake in Wix.com by 27.9% during the 2nd quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock worth $124,973,000 after acquiring an additional 171,500 shares in the last quarter. Finally, Whale Rock Capital Management LLC boosted its holdings in Wix.com by 31.6% during the 3rd quarter. Whale Rock Capital Management LLC now owns 690,765 shares of the information services provider’s stock valued at $115,475,000 after acquiring an additional 165,810 shares during the period. 81.52% of the stock is owned by hedge funds and other institutional investors.

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.