Robert W. Baird Issues Positive Forecast for Wix.com (NASDAQ:WIX) Stock Price

Wix.com (NASDAQ:WIX) had its price target boosted by Robert W. Baird from $175.00 to $215.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the information services provider’s stock.

Several other research firms also recently weighed in on WIX. Needham & Company LLC restated a “buy” rating and set a $200.00 price objective on shares of Wix.com in a report on Wednesday, November 20th. Benchmark upped their price objective on shares of Wix.com from $225.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Piper Sandler upped their price objective on shares of Wix.com from $200.00 to $249.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Royal Bank of Canada increased their target price on shares of Wix.com from $190.00 to $245.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. increased their target price on shares of Wix.com from $195.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Four 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.71.

Wix.com Trading Up 2.9 %

WIX opened at $223.41 on Monday. The company’s fifty day moving average price is $170.73 and its two-hundred day moving average price is $163.40. Wix.com has a 1-year low of $95.65 and a 1-year high of $223.95. The company has a market cap of $12.25 billion, a price-to-earnings ratio of 135.75, a PEG ratio of 4.24 and a beta of 1.47.

Hedge Funds Weigh In On Wix.com

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dorsal Capital Management LP boosted its position in Wix.com by 23.8% during the second quarter. Dorsal Capital Management LP now owns 1,300,000 shares of the information services provider’s stock worth $206,791,000 after purchasing an additional 250,000 shares during the period. Clearbridge Investments LLC boosted its position in Wix.com by 2.9% during the second quarter. Clearbridge Investments LLC now owns 1,197,474 shares of the information services provider’s stock worth $190,482,000 after purchasing an additional 33,338 shares during the period. Senvest Management LLC boosted its position in Wix.com by 4.7% during the third quarter. Senvest Management LLC now owns 1,118,081 shares of the information services provider’s stock worth $186,910,000 after purchasing an additional 50,482 shares during the period. Renaissance Technologies LLC boosted 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 worth $124,973,000 after purchasing an additional 171,500 shares during the period. Finally, Whale Rock Capital Management LLC boosted 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 worth $115,475,000 after purchasing an additional 165,810 shares during the period. Institutional investors own 81.52% of the company’s stock.

About Wix.com

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.