Wix.com (NASDAQ:WIX) Price Target Raised to $220.00

Wix.com (NASDAQ:WIX) had its price target raised by B. Riley from $190.00 to $220.00 in a research note published on Thursday morning,Benzinga reports. B. Riley currently has a buy rating on the information services provider’s stock.

A number of other research analysts have also recently issued reports on the company. UBS Group lifted their price target on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, August 8th. KeyCorp started coverage on Wix.com in a report on Thursday, July 25th. They issued a “sector weight” rating for the company. Benchmark lifted their price objective on Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald lifted their price objective on Wix.com from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research report on Monday, August 5th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $210.44.

Wix.com Stock Performance

Shares of NASDAQ WIX opened at $217.20 on Thursday. The stock has a market cap of $11.91 billion, a PE ratio of 135.75, a PEG ratio of 4.25 and a beta of 1.47. The business has a fifty day moving average of $170.73 and a two-hundred day moving average of $162.82. Wix.com has a 52-week low of $95.65 and a 52-week high of $220.22.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in WIX. Quadrature Capital Ltd grew its holdings in Wix.com by 65.1% in the 1st quarter. Quadrature Capital Ltd now owns 22,515 shares of the information services provider’s stock valued at $3,095,000 after buying an additional 8,879 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Wix.com by 19.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,401 shares of the information services provider’s stock valued at $1,431,000 after buying an additional 1,696 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Wix.com during the 1st quarter worth $779,000. Industrial Alliance Investment Management Inc. grew its holdings in shares of Wix.com by 246.5% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 686 shares of the information services provider’s stock worth $94,000 after purchasing an additional 488 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC grew its holdings in shares of Wix.com by 163.7% during the 1st quarter. Grandeur Peak Global Advisors LLC now owns 3,829 shares of the information services provider’s stock worth $526,000 after purchasing an additional 2,377 shares in the last quarter. 81.52% of the stock is owned by institutional investors and hedge funds.

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.