Benchmark Boosts Wix.com (NASDAQ:WIX) Price Target to $250.00

Wix.com (NASDAQ:WIX) had its price objective increased by Benchmark from $225.00 to $250.00 in a research note released on Thursday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Other equities research analysts have also issued reports about the stock. KeyCorp assumed coverage on shares of Wix.com in a research report on Thursday, July 25th. They issued a “sector weight” rating on the stock. Piper Sandler increased their price target on shares of Wix.com from $200.00 to $249.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on Wix.com from $195.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 20th. Cantor Fitzgerald increased their target price on Wix.com from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Royal Bank of Canada raised their price target on Wix.com from $190.00 to $245.00 and gave the stock an “outperform” rating in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $210.44.

Wix.com Price Performance

NASDAQ WIX opened at $217.20 on Thursday. The business has a 50 day moving average price of $170.73 and a 200 day moving average price of $163.10. The company has a market capitalization of $11.91 billion, a P/E ratio of 135.75, a PEG ratio of 4.21 and a beta of 1.47. Wix.com has a 1-year low of $95.65 and a 1-year high of $220.22.

Hedge Funds Weigh In On Wix.com

Several institutional investors and hedge funds have recently bought and sold shares of WIX. Dorsal Capital Management LP grew its stake in shares of Wix.com by 23.8% during the 2nd quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock valued at $206,791,000 after buying an additional 250,000 shares during the period. Captrust Financial Advisors boosted its holdings in Wix.com by 545.7% in the third quarter. Captrust Financial Advisors now owns 238,465 shares of the information services provider’s stock valued at $39,864,000 after acquiring an additional 201,532 shares during the last quarter. Renaissance Technologies LLC grew its position in Wix.com by 27.9% during the second quarter. Renaissance Technologies LLC now owns 785,649 shares of the information services provider’s stock valued at $124,973,000 after acquiring an additional 171,500 shares during the period. Whale Rock Capital Management LLC grew its position in Wix.com by 31.6% during the third 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. Finally, Driehaus Capital Management LLC acquired a new stake in Wix.com during the second quarter worth about $13,646,000. Institutional investors and hedge funds own 81.52% of the company’s stock.

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.