Wix.com (NASDAQ:WIX) Stock Price Expected to Rise, Barclays Analyst Says

Wix.com (NASDAQ:WIX) had its target price increased by Barclays from $184.00 to $236.00 in a research note published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the information services provider’s stock.

WIX has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of Wix.com in a research note on Monday, October 7th. UBS Group raised their target price on Wix.com from $200.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, August 8th. JMP Securities reiterated a “market outperform” rating and issued a $180.00 target price on shares of Wix.com in a research note on Thursday, July 25th. Evercore ISI upgraded Wix.com to a “strong-buy” rating in a research note on Monday, August 5th. Finally, Piper Sandler upgraded Wix.com from a “neutral” rating to an “overweight” rating and raised their target price for the company from $184.00 to $200.00 in a research note on Monday, September 23rd. Three investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $210.44.

Wix.com Price Performance

Shares of WIX opened at $217.20 on Wednesday. The business’s fifty day moving average price is $170.73 and its 200 day moving average price is $162.82. Wix.com has a 12-month low of $95.65 and a 12-month high of $220.22. The stock has a market capitalization of $11.91 billion, a PE ratio of 135.75, a price-to-earnings-growth ratio of 4.25 and a beta of 1.47.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in Wix.com by 3.2% during the third quarter. Geode Capital Management LLC now owns 461,902 shares of the information services provider’s stock worth $76,848,000 after acquiring an additional 14,340 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Wix.com during the third quarter worth about $10,523,000. Nomura Asset Management Co. Ltd. grew its holdings in Wix.com by 1.2% during the third quarter. Nomura Asset Management Co. Ltd. now owns 14,680 shares of the information services provider’s stock worth $2,454,000 after acquiring an additional 170 shares during the period. XTX Topco Ltd grew its holdings in Wix.com by 348.6% during the third quarter. XTX Topco Ltd now owns 8,904 shares of the information services provider’s stock worth $1,488,000 after acquiring an additional 6,919 shares during the period. Finally, iA Global Asset Management Inc. grew its holdings in Wix.com by 9.3% during the third quarter. iA Global Asset Management Inc. now owns 20,271 shares of the information services provider’s stock worth $3,389,000 after acquiring an additional 1,725 shares during the period. 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.