Bank of America Boosts Wix.com (NASDAQ:WIX) Price Target to $228.00

Wix.com (NASDAQ:WIX) had its price objective upped by Bank of America from $190.00 to $228.00 in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the information services provider’s stock.

A number of other research firms have also recently issued reports on WIX. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a report on Monday, August 5th. KeyCorp assumed coverage on Wix.com in a report on Thursday, July 25th. They set a “sector weight” rating for the company. Benchmark boosted their target price on Wix.com from $210.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. Barclays reduced their price target on Wix.com from $186.00 to $184.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of Wix.com in a report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Wix.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $210.44.

Wix.com Stock Down 0.9 %

Shares of WIX stock opened at $217.20 on Wednesday. Wix.com has a 12-month low of $95.65 and a 12-month high of $220.22. The firm has a fifty day moving average of $170.73 and a 200-day moving average of $162.82. The company has a market capitalization of $11.91 billion, a price-to-earnings ratio of 135.75, a P/E/G ratio of 4.25 and a beta of 1.47.

Institutional Investors Weigh In On Wix.com

A number of large investors have recently added to or reduced their stakes in the business. Dorsal Capital Management LP raised its holdings in Wix.com by 23.8% in 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 acquiring an additional 250,000 shares during the period. Captrust Financial Advisors grew its position in shares of 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 purchasing an additional 201,532 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of 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. Whale Rock Capital Management LLC lifted 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 worth $115,475,000 after purchasing an additional 165,810 shares during the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Wix.com in the 2nd quarter valued at $13,646,000. 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.